{"id":465192,"date":"2022-02-01T08:35:05","date_gmt":"2022-02-01T03:05:05","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=465192"},"modified":"2022-02-01T09:02:38","modified_gmt":"2022-02-01T03:32:38","slug":"hindustan-petroleum-q3-net-profit-drops-63-on-inventory-loss","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/hindustan-petroleum-q3-net-profit-drops-63-on-inventory-loss\/","title":{"rendered":"Hindustan Petroleum Q3 net profit drops 63% on inventory loss"},"content":{"rendered":"<p>Hindustan Petroleum Corporation Ltd (HPCL) on Monday reported a 63 per cent decline in third quarter net profit as it booked inventory losses.<\/p>\n<p>Net profit in October-December of Rs 869 crore compared with Rs 2,355 crore for the same period last year. <\/p>\n<p>&#8220;The profit was affected primarily due to the price fluctuations in Q3 2021 leading to inventory losses compared to inventory gains in the corresponding period last year,&#8221; HPCL Chairman and Managing Director M K Surana told reporters here.<\/p>\n<p>While refusing to give inventory loss numbers, he said the loss was on the marketing side &#8212; meaning it sold fuel at less than its cost.<\/p>\n<p>This primarily would have been due to keeping petrol and diesel prices on hold despite international oil prices jumping above USD 90 per barrel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hindustan Petroleum Corporation Ltd (HPCL) on Monday reported a 63 per cent decline in third quarter net profit as it booked inventory losses. Net profit in October-December of Rs 869 crore compared with Rs 2,355 crore for the same period last year. &#8220;The profit was affected primarily due to the price fluctuations in Q3 2021 leading to inventory losses compared to inventory gains in the corresponding period last year,&#8221; HPCL Chairman and Managing Director M K Surana told reporters here. While refusing to give inventory loss numbers, he said the loss was on the marketing side &#8212; meaning it sold [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-465192","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/465192","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=465192"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/465192\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=465192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=465192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=465192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}