HPCL Profit Falls 4% to Rs 1,748 Crore in Q4
Today, Hindustan Petroleum Corp revealed that it experienced nearly 4 per cent fall in fourth quarter net profit. This was due to the higher expenses of the company.
Hindustan Petroleum Corporation Limited is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. It has about 25% market-share in India among public-sector companies and a strong marketing infrastructure. In the fourth quarter that ended on March 31, the net profit of the company was Rs 1,748 crore. However, in the previous year, during same quarter, the net profit was Rs 1,819 crore according to the company.
According to the data, the total expenses rose 13.8 per cent to Rs 64621 crore, while income from operations rose 13 per cent to Rs 66,351 crore.