HPCL second quarter net profit dips 37% to Rs 1,092 crore


HPCL second quarter net profit dips 37% to Rs 1,092 crore

Hindustan Petroleum (HPCL), government-owned fuel retailer, today reported a 37 per cent fall in its net profit at Rs 1,092 crore for the quarter ended September 2018, as compared to a net profit of Rs 1,735 crore reported in the corresponding quarter of the previous financial year.

“Other expenses for the April-September period, 2018, includes Rs 1,424.36 crore towards loss on account of foreign currency transactions and translations. During, April-September, 2017, gain of Rs 132.33 crore on account of foreign currency transactions and translations was included in other income,” the company said.

The company’s revenue from operations in the second quarter increased 34.51 per cent to Rs 73,790 crore, as compared to Rs 54,855 crore reported in the corresponding quarter a year ago. Read more

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