Hindustan Petroleum Corporation (HPCL), founded in 1974 on nationalization of ESSO India, is the second largest integrated oil refining and marketing company in India. The main products of the company include petrol, high speed diesel, superior kerosene oil, liquefied petroleum gas, aviation turbine fuel, naphtha, furnace oil, bitumen, low sulphur heavy stock, solvents, propylene and over 300 grades of lubes. The company has participated in a number of joint ventures, namely Mangalore Refinery & Petrochemicals, Hindustan Colas, South Asia LPG Company, Petronet India, Petronet MHB, Prize Petroleum Company and Bhagyanagar Gas. HPCL`s two coastal refineries in Mumbai and Vishakhapatnam and one joint venture refining facility at Mangalore Refinery & Petrochemicals have been meeting almost 20% of India`s refining requirements. The refinery produces superior quality lube base oils.
Results Update
Hindustan Petroleum Corporation has posted a net loss of Rs. (33644.80) million for the quarter ended September 30, 2011 as compared to net profit of Rs. 20896.10 million for the quarter ended September 30, 2010. Total Income has increased from Rs. 310915.60 million for the quarter ended September 30, 2010 to Rs. 373273.10 million for the quarter ended September 30, 2011.
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