In Q1 FY25, HPCL's net profit dropped 91% YoY to ₹634 crore due to lower refining margins and higher costs.
State-run Hindustan Petroleum Corporation (HPCL) reported a 91% YoY drop in its Q1 FY25 net profit at around ₹634 crore due to lower refining margins and higher costs. The average Gross Refining Margin (GRM) for Q1 FY25 was $5.03 per barrel, down from $7.44 in Q1 FY24 and $6.95 per barrel in Q4 FY24. HPCL's consolidated total expenses were higher at ₹1.21 lakh crore in Q1 FY25 compared to ₹1.19 lakh crore in Q1 FY24.
July 29, 2024
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