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‘Volatile crude, GRM fall hit HPCL’

DNMUM441052 | 8/12/2019 | Author : Zee Media Newsroom | WC :546

Q & A Mukesh Kumar Surana, chairman & managing director, HPCL LTD
Zee Media Newsroom
Mukesh Kumar Surana, chairman & managing director, Hindustan Petroleum Corporation Ltd (HPCL), spoke about the quarterly results and things that impacted the company’s performance in the first quarter of fiscal 2020 in an interview with Sandeep Grover and Devanshi Ashok Ashar.
HPCL numbers have been under pressure, especially profit, which has dropped 74%. What was the reason behind this fall and what were the pressure points?
Three things are responsible for it, crude price volatility, sharp fall in GRM (gross refining margin) cracks, which was low on maximum products, and shutdown of a plant at a refinery. These three things had a net impact in the form of inventory loss, lower cracks and power pla
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