HPCL net up 225 per cent in Q2

After IOC’s excellent results, HPCL has also registered a growth of 225 per cent in its net profit in the second quarter. The profits during the quarter stood at Rs 456 crore as compared to Rs 140 crore during the same period last year.

This is the highest ever profit made in any quarter. The company also registered an impressive 90 per cent jump in its net profit for the first half of the current fiscal. For the first half, the net profit of HPCL stood at Rs 573 crore as compared to Rs 302 crore in the same period last year.

According to a company release, the excellent growth has been mainly due to good performance achieved achieved by both the refineries as well as the marketing division. Growth in profits have been possible mainly due to improvement in the refining margins due to the higher international prices of the products.

The company has also achieved a significant saving in the interest cost by about Rs 63 crore as compared to last year mainly due to efficient treasury management.