HPCL's Q1 loss trebles on higher under-recoveries

State-run Hindustan Petroleum's June quarter loss has more than trebled to Rs 9,248 crore, Year-on-Year due to higher crude price and under-recoveries. The oil marketing company had posted a Rs 3080 crore loss in the corresponding quarter of FY12.

August 09, 2012 / 20:36 IST

26 Aug, 2025 12:21

Volume

Todays L/H

Moneycontrol Bureau

State-run Hindustan Petroleum's June quarter loss has more than trebled to Rs 9,248 crore, Year-on-Year due to higher under-recoveries.

This loss is mainly due to the company which is entitled to subsidy,did not receive any cash compensation from the government for selling fuel products at subsidised rates. Also, the gross refining margins attributed to the loss by slipping to (-) 2.05/bbl when compared to $3.68/bbl, Quarter-on-Quarter.

The oil marketing company had posted a Rs 3080 crore loss in the corresponding quarter of FY12.

Net Sales, however grew to Rs 44,076.5 crore versus Rs 40,798 crore (YoY)

first published: Aug 9, 2012 04:28 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347