HPCL likely to post loss of Rs 700 cr in Q3

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HPCL likely to post loss of Rs 700 cr in Q3

State-owned oil marketing company HPCL is expected to report a net loss of Rs 700 crore in the October-December quarter of FY12 as against profit of Rs 211 crore in a year ago quarter.

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State-owned oil marketing company HPCL is expected to report a net loss of Rs 700 crore in the October-December quarter of FY12 as against profit of Rs 211 crore in a year ago quarter.

Sales are seen going up by 25.5% to Rs 42,550 crore versus Rs 33,902.5 crore year-on-year.

The company is likely to post a loss of Rs 240 crore at operating level as against profit of Rs 627 crore during the same period.

Highlights

* Govt contribution uncertain

* HPCL's gross under-recovery for the quarter is above Rs 7000 crore

* Follows H1 net loss of over Rs 6450 crroe

* QoQ deterioration margins; Q2 was USD 1.9/barrel 

* Vizag refinery production cut on pollution board notice may reduce throughput