BPCL’s net profit rises to Rs 6,478 crore in the fourth quarter
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HPCL said in a notice to the stock exchanges on Monday that its net profit on a standalone basis stood at Rs 2,501 crore in the same quarter a year ago. The company’s profit has increased due to improvement in refining and fuel marketing margins.
Public sector petroleum company Bharat Petroleum Corporation Limited’s (HPCL) net profit on a standalone basis more than doubled to Rs 6,478 crore in the January-March quarter of the last financial year 2022-23. HPCL said in a notice to the stock exchanges on Monday that its net profit on a standalone basis stood at Rs 2,501 crore in the same quarter a year ago. The company’s profit has increased due to improvement in refining and fuel marketing margins.
HPCL said that its net profit for the entire financial year 2022-23 has increased to Rs 1,807 crore due to better fourth quarter results. Thus, keeping petrol, diesel and LPG prices stable in the first half of the financial year helped offset the loss. Though HPCL has not increased prices of petroleum products since April last year, its refining margin has improved in the second half due to fall in international crude oil prices.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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