Hindustan Petroleum Corporation (HPCL) today reported a net loss of Rs 422.03 crore for the third quarter ended December 31, 2008, as compared to a net loss of Rs 15.74 crore in the corresponding period a year ago mainly due to high crude and product prices, which the company could not fully pass to the consumers.
According to the company release, net sales increased 8 per cent to Rs 29,386 crore for the reporting quarter from Rs 27,117 crore.
The company said that its gross refining margin for the nine months ended December 2008 stood at $42.81 per barrel for Mumbai refinery and $1.01 per barrel for Visakha refinery.
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