Inventory losses pull down HPCL profit by 82 per cent
NEW DELHI: State-run oil major Hindustan Petroleum Corporation Ltd., (HPCL) has posted an 87.2 per cent drop in net profit during the quarter ended December 31 compared to the same period last year. The decline in earnings was primarily due to a Rs 3,465 crore inventory loss arising from falling crude oil prices, combined with falling refinery margins.
