The decrease in profit is due to sharp decline in crude prices in the month of May and June 2019 leading to inventory losses both at refinery and marketing
M K Surana, chairman and managing director of HPCL, said the Barmer refinery project is on course will be able to commission it as planned in 2022-22
Income from operations rose over 13% to Rs 628.32 bn
Moody's Investors Service has assigned a Baa3 rating to the unsecured bonds issuance by HPCL
HPCL has expressed its interest to the govt in acquiring the Mangalore-based company