NEW DELHI: State-owned Hindustan Petroleum Corporation (HPCL) on Monday reported returning to profitability in the September quarter after a boost in marketing margin improved earnings.
It logged a consolidated net profit of Rs 5,827 crorein the September quarter. In the year-ago period, the company had reported a loss of Rs 2,476 crore, it said in a stock exchange filing.The profit was aided by a boost in marketing margins as a freeze on petrol and diesel price revision despite a fall in input crude oil prices helped recover losses incurred when rates were high last year.
Pre-tax earnings from the downstream oil refining and marketing business came at Rs 6,985 crore in the second quarter of the current fiscal.
It logged a consolidated net profit of Rs 5,827 crorein the September quarter. In the year-ago period, the company had reported a loss of Rs 2,476 crore, it said in a stock exchange filing.The profit was aided by a boost in marketing margins as a freeze on petrol and diesel price revision despite a fall in input crude oil prices helped recover losses incurred when rates were high last year.
Pre-tax earnings from the downstream oil refining and marketing business came at Rs 6,985 crore in the second quarter of the current fiscal.
