HPCL reports net loss of Rs 320.50 crore in Q2

Hindustan Petroleum Corporation (HPCL) has reported results for second quarter ended September 30, 2015.

The company has reported a net loss of Rs 320.50 crore for the quarter ended September 30, 2015 as compared to net profit of Rs 850.21 crore for the same quarter in the previous year. The total income of the company has decreased by 18.43% at Rs 42367.60 crore for the quarter under review as compared to Rs 51942.30 crore in the corresponding quarter of the previous year.

HPCL is a Government of India Enterprise with a Navratna Status, and a Forbes 2000 and Global Fortune 500 company. It had originally been incorporated as a company under the Indian Companies Act 1913. HPCL owns & operates 2 major refineries producing a wide variety of petroleum fuels & specialties, one in Mumbai of 6.5 MMTPA capacity and the other in Visakhapatnam, with a capacity of 8.3 MMTPA.