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HPCL profit zooms to Rs 3,018 crore in Q4
HPCL has reported a net profit of Rs 3,017.96 crore during the 4th quarter (Q421), an increase of over 400 percent from Rs 26.80 crore a year ago.
HPCL sold 36.59 mt of products in FY21 compared to 39.64 mt in the previous year/Reuters
New Delhi: State-run Hindustan Petroleum Corporation Ltd (HPCL) reported a net profit of Rs 3,017.96 crore during the 4th quarter (Q421), an increase of over 400 percent from Rs 26.80 crore a year ago. The company’s gross sales for the fourth quarter were at Rs 84,904.75 crore (Rs 71,268.14 crore). For the full year, HPCL reported a net profit of Rs 10,663.88 crore (Rs 2,637.26 crore). Gross sales for FY21 were at Rs 2,69,242.86 crore (Rs 2,86,250.27 crore).
The Board of Directors of the company have proposed a final dividend of Rs 22.75 per share for FY21.
The company posted a marketing inventory gain of Rs 4,051 crore during the year compared to an inventory loss of Rs 2,885 crore in FY20.
For the fourth quarter, the marketing inventory gain was Rs 2,955 crore compared to a loss of Rs 1,529 crore in the corresponding period last year.
During FY21, HPCL refineries at Mumbai and Visakhapatnam achieved combined refining throughput of 16.42 mt with capacity utilisation of 104 percent.
HPCL sold 36.59 mt of products in FY21 compared to 39.64 mt in the previous year.
“Enhanced profitability was a result of robust operational performance, improvement in refinery margins helped by inventory gains and favorable exchange rate variations,” HPCL Chairman and Managing Director, Shri MK Surana, said at a media conference on Thursday.
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