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HPCL third quarter net profit falls 87% to Rs 247 core

  • calendar 06-Feb-2019
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HPCL third quarter net profit falls 87% to Rs 247 core

New Delhi: State-owned fuel retailer Hindustan Petroleum Corp (HPCL) today reported an 87 per cent fall in net profit for the third quarter ended December at Rs 247.55 crore on the back of inventory loss and higher expenses. The company had reported a net profit of Rs 1,950 crore in the year-ago period. HPCL’s expenses ballooned 27 per cent to Rs 77,106 crore during the quarter, as compared to Rs 60,688 crore reported in the corresponding period a year ago. “Other expenses for the period April-December, 2018, includes Rs 827.08 crores towards loss on account of foreign currency transactions and translations. During, April-December, 2017, gain of Rs 406.64 crores on account of foreign currency transactions and translations was included in other income,” HPCL said in a Bombay Stock Exchange (BSE) filing

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