HPCL Net Profit

Vizag refinery will operate at 13.5 mtpa capacity in the current fiscal year and at full capacity of 15 mtpa in the next fiscal, Bharathan said

Its revenue from operations surged 69.95 per cent to Rs 918.06 crore in Q3 YoY

The company blamed depressed marketing margins on motor fuels and LPG as the main reason for its profitability being impacted over the latest quarter

Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported Rs 2,172.14 net loss in July-September after losses arising from freezing petrol and diesel prices couldn't be made up by accounting for a one-time government grant that came after the quarter had ended. Standalone net loss of Rs 2,172.14 crore in the second quarter of the current fiscal year compares to Rs 1,923.51 crore profit in the same period last year, according to the company's filing to the stock exchanges. This is the first time that the company posted a back-to-back quarterly loss. HPCL posted a record of Rs 10,196.94 crore in the April-June quarter. Just like HPCL, Indian Oil Corporation (IOC) - the nation's largest oil firm - too had posted a second straight quarterly loss as state-owned firms sold petrol, diesel and cooking gas (LPG) at rates below cost to help the government contain inflation. The loss in the second quarter of the current fiscal was despite accounting for a one-time grant that the governm

This included a $2.33 per barrel inventory gain from buying cheaper crude oil earlier and processing in Q2.

The rise in PBT was mainly owing to inventory gains and higher capacity utilisation in refineries

The company's net profit saw a 3.6 per cent decline to Rs 1,052.31 crore during the July to September quarter of the financial year versus Rs 1,091.98 crore during the same period last year

This is compared to a net profit of Rs 9.25 billion during the April to June quarter of 2017-18