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Hindustan Petroleum Corporation Ltd (HPCL) chairman Pushp Kumar Joshi has stated that Houthi militants attacks on ship vessels have not affected India s crude oil flows, despite the ongoing Red Sea attacks. ....
The 21-month record freeze in retail fuel prices despite fall in input raw material (crude oil) prices helped raise marketing margins, HPCL Q3 Results: Net Profit Trebles to Rs 529 Crore, Revenue At Rs 1.18 Lakh Crore ....
HPCL Q3 Results: Hindustan Petroleum Corporation s net profit for Q3 tripled YoY to Rs 529 crore, but slumped by 90% sequentially. Revenue from operations rose 2% YoY to Rs 1.11 lakh crore, growing by 16% sequentially. The stock declined over 6.5% following the Q3 earnings presentation. The board recommended an interim dividend of Rs 15 a share. ....
Amid Brent Crude s drop below $80 per barrel, India s Modi government may consider a fuel price reduction before upcoming general elections, aiming to ease the financial burden on consumers. The Bharatiya Janata Party, eyeing a third consecutive term, may leverage the recent decline in oil prices to address living costs, benefiting from state-run oil marketing companies increased margins. ....
ONGC has spent 24,500 crore, or about 80% of its annual target. ONGC s overseas arm ONGC Videsh has spent 2,400 crore, three-fourths of the annual budget. HPCL has spent 9,500 crore, nearly exhausting its annual budget of 10,000 crore as the greenfield refinery being built in Barmer, Rajasthan absorbs a lot of capital. ....