HPCL posts Rs.2,089.61 crore profit

Mumbai, Nov 12 (IANS) State-run refiner Hindustan Petroleum Corporation Ltd (HPCL) Friday reported Rs.2,089.61 crore profit for the second quarter of the current fiscal as against Rs.136.68 crore net loss in the corresponding quarter last year.

The company’s total income rose 25.46 percent to Rs.31,091.56 crore for the quarter ended Sep 30, 2010 from Rs.24,780.15 crore in the same quarter last year, HPCL said in a regulatory filing to the Bombay Stock Exchange (BSE).

HPCL has come back to profitability in the July-September quarter on high sales revenue as oil prices rose. It has posted Rs.205.32 crore net profit for the first six months of this year as compared to Rs.512.44 crore net profit during the first two quarters of fiscal 2009-10.

Share price of HPCL fell 0.39 percent to Rs.452.75 at the Bombay Stock Exchange Friday.

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