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Hindustan Petroleum second-quarter profit more than doubles, but misses estimates


(Reuters) - State-owned oil refiner Hindustan Petroleum Corp Ltd's second-quarter net profit more than doubled, but fell short of analysts' estimates.Net profit for the three months ending Sept. 30 soared to 17.35 billion rupees ($267 million) from 7.01 billion rupees a year earlier, the company said in a filing on Thursday. on average had expected a profit of 20.58 billion rupees, according to Thomson Reuters Eikon data.Average gross refining margin, the profit earned on each barrel of crude processed, advanced to $6.75 per barrel for the half year ended Sept. ...

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First Published: Thu, November 09 2017. 14:34 IST