HPCL posts net profit of Rs2,090 crore

Hindustan Petroleum Corp. (HPCL) reported a net profit of Rs2,089.61 crore (US$462.2 million) during the second quarter ending September 30, compared to a net loss of Rs136.68 crore (US$30.23 million) during the same period a year ago. This profit was achieved largely due to government support of Rs2,832.17 crore (US$626.45 million), the company said. HPCL posted a turnover of Rs61,002 crore (US$13.5 billion) during the April-September 2010 period, compared with Rs51,687 crore (US$11.4 billion) during the same period a year ago, an 18% increase. (November 13, 2010)