HPCL Reports 9% Drop in Second-Quarter Profit on Higher Costs
India's Hindustan Petroleum Corp said higher tax expenses and a sharp spike in crude prices squeezed fuel-retailing margins.
India's Hindustan Petroleum Corp (NSE:HINDPETRO) said Thursday that second-quarter profit fell 9%, as higher tax expenses and a sharp rise in crude prices squeezed the fuel retailer's margins. Key details from the state-run company's earnings report ($1 = 94.8175 Indian rupees)