MUMBAI : State-run Hindustan Petroleum Corporation Limited (HPCL) has recorded 56% drop in its net profit at ₹2,637 crore for the year ended 2019-20 against ₹6,029 crore for the previous year.The decrease in net profit is mainly on account of inventory losses due to sharp fall in crude prices and exchange rate fluctuations, the company said today.January-March quarterly profit however, was down 99% at ₹27 crore against ₹2,970 crore during the corresponding period of previous financial year.Gross sales for the FY 19-20 came in at ₹2,86,250 crore as compared Rs.2,95,713 crore for the previous year."Financial Year 2019-20 specially in last quarter has seen unprecedented event like outbreak of covid-19 pandemic leading to nationwide lock downs.