HPCL Q2 Result: Reports Net loss of Rs 2,172 cr

The company’s revenue strikes down 5.3 per cent sequentially to Rs 1.08 lakh crore from Rs 1.14 lakh crore in the June quarter.

HPCL Q2 Result: Reports Net loss of Rs 2,172 cr

New Delhi: India's Maharatna company and a state-owned oil retailer Hindustan Petroleum Corporation (HPCL) reported another loss in the financial year of 2022-2023.

On November 3rd, 2022 the company reported a standalone net loss of Rs 2,172 crore for the quarter that ended September 2022. However, the company reported a profit of Rs 1,923 crore in the same quarter last fiscal.

In the first quarter, due to high input costs and margin erosion on Motor Fuels and LPG impacted the profitability, resulting in a Net loss of Rs 10,197 crore during April-June 2022.

The company’s revenue strikes down 5.3 per cent sequentially to Rs 1.08 lakh crore from Rs 1.14 lakh crore in the June quarter.