{"id":358012,"date":"2020-06-18T10:51:28","date_gmt":"2020-06-18T05:21:28","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=358012"},"modified":"2020-06-18T10:51:28","modified_gmt":"2020-06-18T05:21:28","slug":"hpcl-q4-net-drops-99-on-inventory-forex-losses","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/hpcl-q4-net-drops-99-on-inventory-forex-losses\/","title":{"rendered":"HPCL Q4 net drops 99% on inventory, forex losses"},"content":{"rendered":"<p>NEW DELHI: Hindustan Petroleum (HPCL) on Tuesday reported a steep 99% drop in its net profit to Rs 27 crore for the March quarter as refining margins plunged and inventory losses mounted because of a sharp fall in international oil prices.<\/p>\n<p>HPCL had posted a net profit of Rs 2,970 crore in the corresponding period a year ago.<\/p>\n<p>\u201cThe drop in net profit was mainly because of inventory losses and exchange rate fluctuations,\u201d HPCL CMD M K Surana said.<\/p>\n<p>The company suffered an inventory loss of Rs 4,113 crore in the January-March 2020 quarter as compared with an inventory gain of Rs 1,224 crore in the year-ago period, he said. Also, the company had a foreign exchange loss of Rs 975 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Hindustan Petroleum (HPCL) on Tuesday reported a steep 99% drop in its net profit to Rs 27 crore for the March quarter as refining margins plunged and inventory losses mounted because of a sharp fall in international oil prices. HPCL had posted a net profit of Rs 2,970 crore in the corresponding period a year ago. \u201cThe drop in net profit was mainly because of inventory losses and exchange rate fluctuations,\u201d HPCL CMD M K Surana said. The company suffered an inventory loss of Rs 4,113 crore in the January-March 2020 quarter as compared with an inventory gain [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-358012","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/358012","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=358012"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/358012\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=358012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=358012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=358012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}