State-controlled Hindustan Petroleum Corporation Limited (HPCL) released their first quarterly financial report for the current fiscal period. HPCL registered a net profit of Rs.1719.20 crore resulting in a 86% incline as compared to Rs.925 crore from a year ago quarter.
Hindustan Petroleum also reported the total revenue of Rs. 72,923 crore which outperformed the previous year same quarter where the total revenue was Rs. 59891 crore. The company’s inventory gain recorded a 12 times growth to Rs. 1905 crore.
EBITDA posted a 9.2% rise against the last fiscal year same quarter to Rs. 3191 crore.The company’s gross refining margin grew from US$ 5.9 to US$ 7.15 in the June end quarter of the current fiscal year.The company’s net profit fell 1.6% as compared to march end quarter of fiscal year 2018 due to fall in price of rupee.