Net sales increased 17 per cent to Rs 61,238 crore, compared with Rs 52,394 crore in the year-ago period. “The higher net profit was basically due to higher compensation for under-recoveries during the quarter, higher marketing margins and better inventory management. We got the under recovery compensation for the entire year on fourth quarter,” said B Mukherjee, director (finance).
HPCL is now reviving its plan to set up Rs 50,000-crore refinery-cum-petrochemical project in Visakhapatnam.
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