HPCL Q2FY22 net profit down 35% yoy at Rs 1919 cr on higher expenses, despite 41% jump in revenues

Hindustan Petroleum Corporation Limited (HPCL) today reported a consolidated net profit of Rs 1918.18 cr for the quarter ended September 30 2021, which was down 35 per cent year-on-year (yoy) and over 4.2 per cent sequentially. The net profit for the corresponding period during the last fiscal was Rs 2975.83 cr while in Q1FY22 it was at Rs 2003 cr according to company’s filing to exchanges.

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The total revenues for Q2FY22 stood at Rs 88,085.42 cr versus Rs 62,439.86 cr in Q2FY20 and Rs 77980.15 cr in Q1FY22.

The reduction in net profit was on the back of higher expenses at Rs Rs 85,746.68 cr during the reporting versus Rs 59,209.28 cr incurred during Q2FY21. In Q1, the total expenses stood at Rs 75,625.84 cr.