Friday, September 30, 2022

HPCL shares fall nearly 5% after disappointing June quarter earnings

HPCL dropped nearly 5 percent after the firm reported its highest-ever quarterly net loss of Rs 10,196.94 crore in the June quarter

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New Delhi: Shares of Hindustan Petroleum Corporation Limited (HPCL) on Monday dropped nearly 5 percent after the firm reported its highest-ever quarterly net loss of Rs 10,196.94 crore in the June quarter.

The stock fell 4.65 percent to end at Rs 239.05 apiece on the BSE. During the day, the stock declined 6.22 percent to Rs 235.10.

On the NSE, it tanked 4.64 percent to settle at Rs 239.05 apiece.

In terms of traded volume, 6.21 lakh shares of the company were traded on the BSE and over 1.59 crore shares on the NSE during the day.

On Saturday, HPCL reported its highest ever quarterly net loss of Rs 10,196.94 crore in the June quarter as a freeze on petrol and diesel price revision wiped away record refining margins.

A standalone net loss of Rs 10,196.94 crore during April-June compares to a net profit of Rs 1,795 crore in the same period a year back, according to a company’s filing with the stock exchanges.

(With PTI inputs)

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