• Thursday, August 11, 2022

Asia

India’s Hindustan Petroleum records £13.14 billion in Q1

Hindustan Petroleum Corporation Limited records profit of 13.14bn GBP in Q1 FY 2018-19

By: Radhakrishna N S

India’s state run Hindustan Petroleum Corporation Limited (HPCL) has recorded Profit After Tax (PAT) of 13.14 billion GBP during April-June of financial year 2018-19 as against 1.18 billion GBP recorded during the same quarter last year. Earnings per share also increased to 0.13 against 0.069 per share in previous year corresponding quarter, said company in a press release on Wednesday (8). Revenue for the quarter was 566.02 billion GBP as compared to revenue of 464.86 billion GBP during the first quarter of the previous year. The increase in profit is primarily because of higher refining margins due to inventory gains…

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