PSU NEWS
HPCL reports rs. 2253-crore profit in Q1
New Delhi: Hindustan Petroleum Corporation (HPCL) on August 6 reported a standalone profit at Rs 2,813.8 crore for the quarter ended June 2020, a sharp rise from Rs 26.8 crore in March quarter and Rs 811 crore in June quarter 2019.
Profit was boosted by strong operating income due to lower overall expenses amid COVID-19-led lockdown. Revenue from operations for the quarter at Rs 37,721 crore fell sharply by 43 percent compared to Rs 66,154.9 crore in March quarter. The year-on-year decline was 46.9 percent.
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