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2 clusters · 5 sources · 3 days · First seen · Last updated

Hindustan Petroleum financial performance

Overview

Hindustan Petroleum Corporation Limited (HPCL) has reported mixed financial outcomes for the second quarter of fiscal year 2027. While the company saw revenue from operations rise to ₹1,39,140 crore, standalone profit after tax for the quarter decreased to ₹3,483 crore from ₹3,830 crore in the previous year. The half-year results indicated a net loss of ₹8,044 crore.

Subsequent reports highlight specific financial pressures, including losses of ₹245 per LPG cylinder caused by surging crude oil prices. Managing Director Vikas Kaushal attributed these strains to geopolitical tensions in West Asia. HPCL, alongside other Indian oil companies, has been selling domestic cylinders below market prices, resulting in a reported ₹500 crore loss from LPG sales in the second quarter. Despite these challenges and rising freight costs, HPCL reported a net profit of ₹3,625.22 crore for the second quarter, marking a recovery from the previous quarter's significant net loss.

Entities

Hindustan Petroleum Corporation Limited · Vikas Kaushal · IHCL · Ankur Dalwani · Bharat Petroleum Corporation

Timeline

  1. [BUSINESS] 2 sources
    HPCL reports LPG losses amid rising crude oil prices

    HPCL faces rising losses on LPG cylinders, potentially reaching ₹327 per unit in November, driven by geopolitical tensions and high crude oil prices.

  2. [BUSINESS] 3 sources
    Mixed financial results for Hindustan Petroleum and IHCL

    Hindustan Petroleum reported increased revenue but a half-year net loss, while IHCL achieved its eighteenth consecutive record quarter with a 21% revenue increase.

Sources

businessnewsweek.in · dtnext.in · taxguru.in · todaystraveller.net · udaipurkiran.com