HPCL has planned a capital expenditure of Rs 4,200 crore for the expansion of its refinery capacity in Mumbai from 6.5 million tonnes to 9.5 million tonnes. It expects to get environmental approval by February and the expansion will be completed in three years. The refiner has benefitted from the industrial recovery with a spike in diesel demand by 16 per cent in October from two and a half per cent in September.

The corporation registered gross sales of Rs 1,01,114 crore for the April-September period up 6.9 per cent which is higher than the PSU industry average of 4.4 per cent said Ms Nishi Vasudeva, who is also the first woman chairman and managing director of an oil refining company.

The gross refining margins increased to $5.45 per barrel for the half year ended September against $2.9 per barrel for the corresponding period in 2014. Domestic consumption of petroleum products increased 6.9 per cent to 16.27 million tonnes, over the same period last year. Petrol sales increased 14.6 per cent and LPG by 7.7 per cent.

For the July-September quarter the declining crude and product prices severely impacted the corporation's financials, said Ms Vasudeva and the loss suffered was Rs 320 crore.

The sales of lubricants was up 39 per cent making it the number one in the market. Net profits were up 41 per cent for the April -September at Rs 1,268 crore.

The corporation is in the process of commissioning the 443 km long Rewari-Kanpur product pipeline at the cost of Rs 1,400 crore and with a capacity of 7.98 million tonnes per annum.