Hindustan Petroleum Corporation Ltd has reported a net profit of Rs 1,950 crore for the third quarter of financial year 2017-2018. This is 23 per cent higher than the Rs 1,590-crore net profit reported by the company in the corresponding quarter of the last financial year.
The higher bottomline is despite the lower inventory gain reported by the company during the period under consideration. The gain is due to better margins on refining and sales, according to company Chairman and Managing Director, M K Surana.