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Bottomline shrinks 3%

Mumbai, Oct. 30 (PTI): Hindustan Petroleum Corporation today reported a 2.7 per cent dip in its net profit at Rs 443.84 crore for the quarter ended September, 30, 2003, as compared with Rs 456 crore posted in the corresponding period of previous fiscal.

However, the net sales in the reporting quarter rose to Rs 13,228.16 crore as against Rs 12,196.61 crore posted in the previous fiscal.

The net profit for the first half rose 4.99 per cent to Rs 601.18 crore (Rs 572.62 crore) while net sales were up at Rs 26,566.84 crore (24,110.39).

Gross refining margins of the Mumbai refinery averaged $3.6 per barrel as against $2.1 per barrel for the previous fiscal while gross refining margins for the Vizag refinery averaged $3.2 per barrel ($4.1 per barrel).

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