Key Points
BENGALURU, Aug 2 (Reuters) - India's Hindustan Petroleum Corp Ltd (HPCL) (HPCL.NS) on Wednesday posted its biggest quarterly profit in more than a decade, aided by higher marketing margins and a fall in crude prices...
The state-owned refiner posted a net profit of 62.04 billion rupees ($750.8 million) for the quarter ended June 30, its highest since March 2013, from a loss of 101.97 billion rupees a year ago...
The companies recovered some of those losses in the quarter on higher marketing margins, analysts said.. HPCL's input costs declined 12.5%, and total expenses fell 17.8% to 1.11 trillion rupees...
The company said its average gross refining margin - profit from making refined products from one barrel of oil - was $7.44 per barrel for the quarter, compared to $16.69 per barrel a year ago...
Last week, other state-owned refiners Indian Oil and Bharat Petroleum also posted profits on higher marketing margins...
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