NEW DELHI: Hindustan Petroleum\u2019s (HPCL) June quarter net profit vaulted 157% to Rs 2,252.65 crore from Rs 877.48 crore in the year-ago period on the back of inventory gains and better-than-industry performance, company chairman Mukesh Kumar Surana said on Thursday.
\n\u201cThis was achieved despite the challenges of COVID pandemic through relatively better (than market) performance in sales and 100% refinery capacity utilisation through the pandemic,\u201d he said.
\nHPCL made inventory gain of Rs 633 crore in the quarter against inventory loss of Rs 536 crore in the same period a year back and earned 4 cents as refining margin.
\nThe profit was notched up in spite of sales dropping to 7.24 million tonne valued at Rs 45,945.48 crore during the period under review from 9.8 million tonne worth Rs 74,595.64 crore a year ago. This marked degrowth of 25.8% for HPCL against 29% for other state-run fuel retailers.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: Hindustan Petroleum\u2019s (HPCL) June quarter net profit vaulted 157% to Rs 2,252.65 crore from Rs 877.48 crore in the year-ago period on the back of inventory gains and better-than-industry performance, company chairman Mukesh Kumar Surana said on Thursday. \u201cThis was achieved despite the challenges of COVID pandemic through relatively better (than market) performance in sales and 100% refinery capacity utilisation through the pandemic,\u201d he said. HPCL made inventory gain of Rs 633 crore in the quarter against inventory loss of Rs 536 crore in the same period a year back and earned 4 cents as refining margin. The […]<\/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-366632","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\/366632","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=366632"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/366632\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=366632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=366632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=366632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}