ICICI Securities Ltd | Retail Equity Research Hindustan Petroleum Corporation's (HPCL) Q3FY19 results were below our estimates on the profitability front mainly on account of higher-than-expected inventory losses. The topline increased 5.2% QoQ to | 77182.4 crore on account of higher product sales HPCL achieved crude throughput of 4.6 MMT in Q3FY19 in line with our estimates. GRMs were at US$3.7/bbl, above our estimate of US$2.1/bbl in spite of inventory losses of US$6.3/bbl. The company...