HPCL appoints Amit Garg as director (marketing)

Hindustan Petroleum Corporation (HPCL) on Tuesday announced that it has appointed Amit Garg as director (marketing) on the board of the company with effect from 27 December 2022.

In a regulatory filing, HPCL said, As indicated in the Ministry of Petroleum and Natural Gas (MOP&NG) letter the term of appointment of Amit Garg is with effect from the date of his assumption of charge of the post till the date of his superannuation i.e. 31 March 2027, or until further orders, whichever is the earliest.

Garg is a Post Graduate in Electronics & Management. Prior to joining HPCL as director (marketing), he was an executive director (aviation) in Bharat Petroleum Corporation (BPCL).

Amit Garg is a senior leader in Oil & Gas space having experience of over 35 years across the entire value chain in the industry including sourcing , storage, logistics and sales across various functions in BPCL. He also served as a full time director with Indraprastha Gas, the largest city gas distribution (CGD) in the country and as a nominee director with Maharashtra Natural Gas, a Joint Venture of BPCL & GAIL (India).

HPCL is engaged in the business of refining of crude oil and marketing of petroleum products. It operates through two segments: downstream, and exploration and production of hydrocarbons. ONGC holds 54.90% in HPCL.

HPCL reported a standalone net loss of Rs 2,172.14 crore in Q2 FY23 as against a net profit of Rs 1,923.51 crore in Q2 FY22. Net sales (excluding Excise Duty) jumped by 30.5% to Rs 1,08,056.24 crore in Q2 FY23 from Rs 82,774.69 crore posted in the same period last year.

Shares of HPCL were down 0.15% to Rs 230.55 on the BSE.

 

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