Business Standard

HPCL slips 4%, nears 52-week low on net loss in September quarter

The state-owned oil marketing company reported the second straight quarterly loss despite revenue rising 30 per cent to Rs 1.13 trillion.

HPCL slips 4%, nears 52-week low on net loss in September quarter
Premium

SI Reporter Mumbai
Shares of Hindustan Petroleum Corporation Limited (HPLC) slipped 4 per cent to Rs 203.55 on the BSE in Friday’s intra-day trade after the oil marketing company posted a consolidated net loss of Rs 2,172.14 crore in Q2FY23 (2022-23). The stock was now trading closer to its 52-week low of Rs 200, recorded on October 20, 2022.

The state-owned oil marketing company reported the second straight quarterly loss despite revenue rising 30 per cent to Rs 1.13 trillion. It had posted a consolidated net profit of Rs 1,923 crore in Q2FY22.

The company blamed depressed marketing margins on motor

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in