OREANDA-NEWS. Shares of state-controlled oil and gas company Hindustan Petroleum Corporation Limited (HPCL) fell nearly 2 per cent in early trade on Bombay Stock Exchange after reporting weak set third quarter numbers.

The company has reported a net loss of Rs 1,734 crore in the December quarter after the government paid less than half of the due oil subsidy.

Weighed down by earnings, shares of company declined as much as 1.75 per cent to trade at Rs 245.50 a piece on the BSE.

In a similar fashion, shares of the company slipped 1.50 per cent to Rs 245.95 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 20,478.76, up 115.39 points or 0.57 per cent at 9:50 hours.