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Hindustan Petroleum Q2 profit more than doubles, misses estimates

Net profit for the three months ending September 30 soared to Rs 1,735 crore from Rs 701 crore a year earlier

Reuters 

State-owned oil refiner Hindustan Petroleum Corp Ltd's second-quarter net profit more than doubled, but fell short of analysts' estimates. Net profit for the three months ending September 30 soared to Rs 1,735 crore from Rs 701 crore a year earlier, the company said in a filing on Thursday.  Analysts on average had expected a profit of Rs 2,058 crore, according to Thomson Reuters Eikon data. Average gross refining margin, the profit earned on each barrel of crude processed, advanced to $6.75 per barrel for the half year ended September 30, from $5.12 per ...

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First Published: Thu, November 09 2017. 14:46 IST
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