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Hindustan Petroleum Corporation Limited (HPCL) on Friday reported net profit of Rs 2327.09 crore for the quarter ended September 30 against net loss of Rs 3364.48 crore in the same period last year.
The profit is on account of receiving Government’s subsidy. It has received subsidy of Rs 6,666.63 crore from the Government as compensation on losses incurred on selling products below market cost.
Total income has increased to Rs 49,423.91 crore in the second quarter of the current financial year from Rs 37,266.32 crore in the same period last year.
The public sector company has reported gross refining margin of $4.20 a barrel for the second year of 2012-13 against $1.92 a barrel in the corresponding period last year.
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