HPCL reports 30% growth in Q1 net profit

Hindustan Petroleum Corporation (HPCL) has reported results for the first quarter ended June 30, 2016.

The company has registered 30% jump in its net profit at Rs 2098.38 crore for the quarter as compared to Rs 1614.13 crore for the same quarter in the previous year. However, total income of the company decreased by 5.67% at Rs 51936.30 crore for quarter under review, as compared to Rs 55059.38 crore for the quarter ended June 30, 2015.

HPCL is a Government of India Enterprise with a Navratna Status, and a Forbes 2000 and Global Fortune 500 company. It 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.