Hindustan Petroleum posts Q2 loss of over Rs.320 crore

Mumbai, Nov 9 (IANS) State-run oil marketer Hindustan Petroleum Corp. Ltd. (HPCL) on Monday reported a loss of Rs.320.5 crore for the second quarter ended September 30, compared to a profit of Rs.850.2 crore in the corresponding quarter of last fiscal.

The company posted a profit of Rs.1,588 crore in the previous – first – quarter.

Revenue in the quarter in question declined 18.6 percent year-on-year to Rs.42,072 crore.

Operating loss stood at Rs.58 crore for the quarter against an operating profit of Rs.1,600 crore in the same period a year ago.

HPCL said its average gross refining margin during the six months period ended September 2015 stood at $5.45 a barrel against $2.09 in same quarter of the last fiscal.

The HPCL stock closed on Monday at Rs.793.85 a share, up 0.77 percent over its previous close on the Bombay Stock Exchange (BSE).

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