HPCL net profit more than doubles to Rs 1,735 crore

The state-run company posted its net profit on the back of higher crude throughput and inventory gains

State-run Hindustan Petroleum Corporation (HPCL) has posted a 147.5 per cent increase in its net profit for the second quarter of the financial year to Rs 1,735 crore, on the back of higher crude throughput and inventory gains.  

This was compared to Rs 701 crore during the same period in 2016-17. "One of the major reasons for a higher net profit was due to higher inventory gains of Rs 792 crore during the second quarter, compared to Rs 550 crore inventory loss during the same period in 2016-17. We also had higher throughput, better refinery margin and higher domestic