Hindustan Petroleum Corporation Ltd (HPCL) has reported a 53 per cent rise in net profit for the October-December 2016 quarter owing to better operational performance. For the December 2016 ended quarter, HPCL’s net profit was Rs 1,590.31 crore, 53 per cent higher from Rs 1,041.25 crore reported last year.
Total income for the quarter under review was Rs 55,828.52 crore, 15 per cent higher from
Rs 48,526.06 crore. Total expenses also rose to Rs 53,370.95 crore from Rs 46,778.39 crore for the same period a year back.
Crude throughput was higher at 4.66 MMT against 4.57 MMT reported a year back. Market domestic sales also increased from 8.57 MMT to 9.02 MMT. Average gross refining margins for the company in the first nine months of the current financial year was $5.57 per barrel against $6.35 per barrel last year.