HPCL reports 157% jump in June quarter's net profit at Rs 2,253 cr

Hindustan Petroleum Corp Ltd (HPCL) on Thursday reported a 157 per cent jump in its June quarter net profit on the back of inventory gains and better than industry performance.

Consolidated profit of Rs 2,252.65 crore, or Rs 14.78 per share, was 156.7 per cent higher than Rs 877.48 crore, or Rs 5.76 a share, earning in the same period a year back.

"This was achieved despite the challenges of Covid pandemic due to relatively better physical performance (than industry) in the market sales and higher capacity utilisation in refineries," HPCL Chairman and Managing Director Mukesh Kumar Surana told reporters.

The net profit