Hellenic Petrol Q2 net down 18 pct, beats estimates

ATHENS Aug 27 (Reuters) - Greece's biggest refiner Hellenic Petroleum (HEPr.AT) on Thursday reported second-quarter net profit of 106 million euros ($150.9 million), down 18 percent year on year as crude oil prices reduced the value of inventories.

The profit exceeded analysts' average forecast of 104.1 million euros.

Stripping out the effect of crude prices on the company's oil inventories and other non-operating items, adjusted net profit rose 4 percent to 63 million euros, exceeding analysts' estimates of 51.6 million euros. (Reporting by Harry Papachristou; Editing by Jon Loades-Carter)