HPCL posts Rs 529 cr net profit in Oct-Dec quarter

NEW DELHI: Public sector oil marketing company Hindustan Petroleum Corporation Limited (HPCL) reported a profit of Rs 529 crore for the October-December quarter, which is a 3-fold increase over the corresponding figure of Rs 172 crore for the same quarter of the previous year.

However, the Q3 net profit was nearly 90 per cent lower than the corresponding figure of Rs 5,118 crore reported by the oil major for preceding July-September quarter of the current financial year.

HPCL's standalone total income rose 2 per cent year-on-year in Q3 to Rs 1.18 lakh crore from Rs 1.16 lakh crore in the same quarter last year.

Domestic sales rose by 3 per cent year-on-year in the third quarter of 2023-24 to 11.3 million metric tonne (MMT).

The company's operating margin expanded by 0.22 per cent year-on-year to 0.7 per cent during the third quarter.