{"id":286709,"date":"2019-08-08T07:09:54","date_gmt":"2019-08-08T07:09:54","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=286709"},"modified":"2019-08-08T07:09:54","modified_gmt":"2019-08-08T07:09:54","slug":"inventory-loss-low-grm-sees-hindustan-petroleum-profits-fall-53-per-cent","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/inventory-loss-low-grm-sees-hindustan-petroleum-profits-fall-53-per-cent\/","title":{"rendered":"Inventory loss, low GRM sees Hindustan Petroleum profits fall 53 per cent"},"content":{"rendered":"<p>Hindustan Petroleum Corporation Ltd (HPCL) on Wednesday reported a 53 per cent drop in June quarter net profit, primarily on account of inventory losses caused by the fall in global crude oil prices and a decline in refinery margins.<\/p>\n<p>The company\u2019s net profit slipped to Rs 811 crore in April-June as compared to Rs 1,719 crore a year ago.<br \/>\n\u201cThe decrease in profit is due to sharp decline in crude prices in the month of May and June 2019 leading to inventory loses both at refinery and marketing, and also lower average cracks for all products except for LPG and fuel oil,\u201d said  the company\u2019s chairman and managing director Mukesh K Surana.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hindustan Petroleum Corporation Ltd (HPCL) on Wednesday reported a 53 per cent drop in June quarter net profit, primarily on account of inventory losses caused by the fall in global crude oil prices and a decline in refinery margins. The company\u2019s net profit slipped to Rs 811 crore in April-June as compared to Rs 1,719 crore a year ago. \u201cThe decrease in profit is due to sharp decline in crude prices in the month of May and June 2019 leading to inventory loses both at refinery and marketing, and also lower average cracks for all products except for LPG and [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,207,143],"tags":[],"class_list":["post-286709","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-new-indian-express","category-the-new-indian-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/286709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=286709"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/286709\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=286709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=286709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=286709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}