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| HPCL to focus on rural retail business |
| Press Trust of India / Kolkata Feb 18, 2010, 20:02 IST |
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Hindustan Petroleum Corporation (HPCL) today said it is planning to increase the number of retail outlets in rural areas, which generate over 20 per cent of its topline.
HPCL Chairman and Managing Director Arun Balakrishnan told PTI that the company wants to increase the number of retail outlets to 9,000 by next year from the existing 8,500.
"We also want to increase the number of rural outlets to 2,000 in the next one year," he said.
Rural business already generates 20-25 per cent of the total sales, Balakrishnan said on the sidelines of the annual conference of the National Institute of Personnel Management.
In the next few years, rural business is expected to increase to 30-35 per cent of the total turnover, he said.
The company would require to invest close to Rs 25 lakh for each retail outlets.
Asked about the Parikh committee's recommendation for decontrol of petrol and diesel pricing, Balakrishnan said it would help improve results.
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