HPCL turns black in Q1

Hindustan Petroleum Corporation (HPCL) has reported results for first quarter ended June 30, 2014.

The company has reported a net profit of Rs 46.04 crore as compared to a net loss of Rs 1460.48 crore for the quarter ended June 30, 2013. The company’s total income has increased by 14.33% to Rs 59413.66 crore for the quarter under review from Rs 51968.01 crore for the corresponding quarter of the previous year.

HPCL operates two major refineries producing a wide variety of petroleum fuels and specialties, one in Mumbai (west coast) of 6.5 million metric tonnes per annum (MMTPA) capacity and the other in Vishakapatnam, (east coast) with a capacity of 7.5 MMTPA.