Lower Crude Prices To Help Company & Consumers: MK Surana, HPCL
  • WebDesk BTVI
  • Aug 08 2019

Hindustan Petroleum Corp (HPCL) reported a 53 per cent drop in June quarter net profit mainly due to inventory losses caused by fall in oil prices and lower refinery margins. Speaking to BTVI, MK Surana, CMD at HPCL, said the adjusted gross refining margin (GRM) was higher than reported GRM. He said the firm saw impact on inventory gains because of sharp decline and volatility in crude market. Surana said that lower crude prices will be helpful for company and consumers. Here's more.