HPCL Q1 Results: Reports Standalone Net Profit of Rs 6,204 cr

Mumbai: Hindustan Petroleum Corporation Limited (HPCL) has reported Revenue from operations of Rs 1,19,044 crore for the period Apr-Jun 2023. 

The Company has reported Decadal High Quarterly Standalone Profit after Tax (PAT) of Rs 6,204 crore during Apr-Jun 2023 registering an increase of 192% over Rs 3,223 crore PAT reported during Q4 FY22-23 (Standalone Net Loss of Rs 10,197 crore during the corresponding period of previous year). 

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Consolidated PAT during this period was Rs 6,766 crore as compared to Consolidated Net Loss of Rs 8,557 crore during the corresponding period of previous year.

Average GRMs (Gross of export duty) for the period Apr-Jun 2023 were US$ 7.44 per barrel (US$ 16.69 per barrel during the corresponding period of previous year). 

Exceptional Physical Performance 

HPCL refineries processed highest ever quarterly crude thru-put of 5.40 Million Metric Tonnes (MMT) during Apr-Jun 2023 (operating at 105.9%) registering a growth of 12.3% over 4.81 MMT crude processed during the corresponding period of previous year. 

Visakhapatnam Refinery functioning at enhanced capacity of 11 MMTPA processed highest ever quarterly crude thru-put of 2.96 MMT (108% of installed capacity). 

The period also saw highest ever quarterly production of HSD (2338 TMT) and Lube Oil Base Stock (137.5 TMT) at HPCL refineries.

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On the marketing front too, HPCL achieved highest ever Quarterly total sales volume (including exports) of 11.85 MMT (10.70 MMT during corresponding period of previous year) representing a growth of 10.7%. 

In the domestic market, HPCL registered highest ever quarterly sales volume of 11.43 MMT during Apr-Jun 2023 registering a growth of 9.4% as compared to industry growth of 5.5% during this period (10.45 MMT Domestic Sales volume during corresponding period of previous year). 

To strengthen Refining & Marketing infrastructure HPCL has invested ? 3,399 crore during Apr-Jun 2023 (including equity investment in its JVCs and subsidiaries). 

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