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HPCL lost 0.96 Percent to INR 247.35 at 10:19 IST after the company reported a net loss of INR 1733.91 crore in Q3 December 2013 as against net profit of INR 147.11 crore in Q3 December 2012. The Q3 result was announced after market hours on Tuesday, 11 February 2014. Meanwhile, the S&P was up 120.82 points or 0.59 Percent at 20,484.19.

so far 30,000 shares were traded in the counter as against average daily volume of 89,000 shares in the past two weeks. The stock hit a high of INR 250.95 and a low of INR 244.85 so far during the day. HPCL's total income from operations rose 3.82 Percent to INR 55454.99 crore in Q3 December 2013 over Q3 December 2012.

During the nine months ended 31 December 2013, discount from upstream oil companies viz. ONGC and GAIL amounting to INR 11099.66 crore (previous year corresponding period INR 10041.27 crore) in respect of crude oil, PDS kerosene & domestic LPG purchased from them has been accounted. This includes an amount of Rs Nil for the nine months ended 31.12.2013 (previous year corresponding period INR 1619.28 crore) which is receivable from ONGC and has been accounted as other operating revenue, HPCL said.

Based on the approval received from the Government of India (GoI), the company has accounted for Budgetary Support amounting to INR 8276.99 crore for the nine months ended 31.12. 2013 (previous year corresponding period INR 12204.82 crore) against under-recoveries on sale of sensitive petroleum products, HPCL said. The Government of India holds 51.11 Percent stake in HPCL (as per the shareholding pattern as on 31.12.2013).

Source-On Request