 "Hindustan Petroleum results: Net profit at Rs 6,765 cr; income down 1.6%")
The consolidated net profit of Hindustan Petroleum Corporation Limited (HPCL) for the first quarter of the current financial year (Q1YFY24) stood to Rs 6,765.50 crore. However, in Q1FY23, the consolidated net loss stood at Rs 8,557.12 crore.
Sequentially, the net profit was up 87.49 per cent. In Q4FY23, the net profit of the company was Rs 3,608.32 crore.
The total income for Q1FY24 came in at Rs 1,19,761.74 crore, compared to Rs 1,21,829.51 crore YoY, a drop of 1.69 per cent.
On a QoQ basis, the total income was up four per cent. It was Rs 1,15,151.57 crore in Q4FY23.
Last month, the company received six or seven bids from industries to lease a part of its Chhara liquefied natural gas (LNG) import terminal on the west coast.
The HPCL aims to commission the terminal, with a planned capacity of five million metric tonnes per year (TPY) in the December quarter.
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