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HPCL Q2 Results: Net profit slumps 98% YoY to Rs 143 crore, revenue rises 5%
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Hindustan Petroleum Corporation (HPCL) on Friday reported that its consolidated net profit fell 97.5% year-on-year (YoY) to Rs 142.67 crore as against Rs 5,826.9 crore reported in the corresponding quarter of the last fiscal year.
HPCL’s revenue for the quarter rose 5.3% YoY to Rs 1,07,754.9 crore, up from Rs 1,02,288.6 crore in the corresponding quarter of the previous year.
«The primary reasons for the lower PAT include suppressed marketing margins on select petroleum products, reduced refining margins due to weaker crack spreads, and declining international crude and product prices,» the company said in an exchange filing.
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