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videos | IST

Profitability will be least impacted by government announcement, says HPCL

It is prerogative of the government to intervene in overall interest of the economy, said MK Surana, CMD of Hindustan Petroleum Corporation (HPCL), when asked about oil marketing companies (OMCs) absorbing burden of fuel price cut.
“As far as the company is concerned, I personally believe that this looks more a short-term measure rather than a policy intervention to effect,” he said.
“While it will have some impact on the profitability of the company in a short run but we will try to ensure that the impact of that is mitigated by other means and to that extent the profitability of the company is least impacted by that,” Surana added.