HPCL net profit dips 56% in Q1 to Rs. 925 crores
Hindustan Petroleum Corporation Limited (HPCL) reported a dip of 56 per cent in its net profit in the first quarter of the current financial year. The company said its net profit for the quarter ended June 30 came stood at Rs 925 crore ($145.26 million), from Rs 20.98 billion a year earlier.
Gross refining margins, or profit earned on each barrel of crude processed, dropped to $5.86 per barrel, compared with $6.83 per barrel in the same period last year.