HPCL Q2 profit slumps 37% YoY to Rs 1,092 crore on higher costs

Oil marketing company Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported a 37.05 per cent year-on-year fall in profit at Rs 1,091.98 crore for quarter ended September 30. The retailer had posted a profit of Rs 1,734.74 crore in the corresponding quarter last year.

Analysts in an ET NOW poll had estimated the profit figure at Rs 1,290 crore.

Total income increased 34.52 per cent to Rs 73,789.50 crore in Q2FY19 over Rs 54,855.19 crore in Q2FY18.

Total expenditure of the company jumped 38.12 per cent to Rs 72,193.28 crore during the quarter under review.

EBITDA for the quarter slipped 27 per cent to Rs 2,122 crore against Rs 2,913 crore last year.

Average gross refining margin (GRM) for the six-month period ended September 30, stood at $5.93 per barrel against $6.75 per barrel during the corresponding period of the previous year.

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