HPCL Q2 results: Net profit falls 22% to Rs 1,923.5 crore

Hindustan Petroleum Corporation Ltd (HPCL) on Tuesday reported a 22.4 per cent year-on-year (YoY) decline in its net profit at Rs 1,923.5 crore during July-September quarter. The company had reported a profit of Rs 1,795 in the preceding June quarter.
 
Total income rose 41 per cent YoY to Rs 87,310.6 crore during the quarter, while expenses rose 44.9 per cent to Rs 85,688.6 crore.
 
HPCL said its average gross refining margin during the six months ended September 30, 2021 stood at $2.87 per barrel as against $2.58 per barrel during the corresponding six months of the preceding financial year.
 
On a consolidated basis, the company's net profit declined 35.5 per cent to Rs 1,918.9 crore during the September quarter.
 
Total income grew 41.1 per cent to Rs 88,085.4 crore, while total expenses rose 44.8 per cent to Rs 85,746.7 crore. Operating margin declined to 2.51 per cent from 6.43 per cent in the year-ago quarter.
 
Shares of HPCL were trading 1.99 per cent lower at Rs 305.80 on the BSE after the declaration of results.

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