Hindustan Petroleum's profit plunges 56% to â¹925 crore
State-run oil refiner Hindustan Petroleum (HPCL) on Friday reported a 56% year-on-year decline in profit to â¹925 crore for the June quarter. Gross refining margins, or profit earned on each barrel of crude processed, dropped 14.2% to $5.86 (â¹373) per barrel. Notably, the cabinet has recently approved the sale of government stake in HPCL to ONGC.