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HPCL posts 140% rise in Q1 PBT on inventory gains, higher capacity usage

The rise in PBT was mainly owing to inventory gains and higher capacity utilisation in refineries

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The company also got benefits from lower crude oil prices during the quarter

2 min read Last Updated : Aug 07 2020 | 12:13 AM IST

State-run Hindustan Petroleum Corporation (HPCL) has more than doubled its consolidated profit before tax (PBT) for the first quarter (Q1) of 2020-21 to Rs 3,119.7 crore, compared to Rs 1,301.4 crore during the April-June period of 2019-20 (FY20) — up 140 per cent.

The rise in PBT was mainly owing to inventory gains and higher capacity utilisation in refineries. The company also got benefits from lower crude oil prices during the quarter. The gross sales for the period under review saw a drop of 38 per cent, from Rs 45,945.48 crore, against Rs 74,595.64 crore Q1FY20.

In Q1, HPCL had

Topics : Hindustan Petroleum Corporation HPCL HPCL results HPCL net profit

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