HPCL profit for FY 2021-22 at ₹ 6,383 crore, Highest ever Revenue of ₹ 3,72,642 Crore up by 38%

Sarkaritel
By Sarkaritel May 19, 2022 18:04

HPCL profit for FY 2021-22 at ₹ 6,383 crore, Highest ever Revenue of ₹ 3,72,642 Crore up by 38%


Mumbai – 19th May 2022: The year 2021-22 has beena remarkable year with world economies recovering back strongly from the lows of Covid Pandemic on improved vaccine coverage and adoption of covid appropriate behavior. Energy Consumption – a key indicator of economic activity staged a smart comeback with consumption gradually moving towards pre-pandemic levels.

Demand revival coupled withimproved economic activities resulted in crude prices gradually strengthening from US$62-65 per barrel in beginning of year to US$ 85 per barrel by Oct’21. Thereafter, rising Geopolitical tensions and the Russia-Ukraine conflict resulted in crude price touching multi year high of US$ 138 per barrel in March 2022 before retreating to US$ 110-115 per barrel towards the end of FY22.

In line with sharp rebound in economic activities in India during FY22, the domestic sales  of petroleum products also recovered from the lows of FY21 (190 MMT) and touched 205 MMT during FY22. Against this background HPCL reported its highest ever quarterly sales revenue of ₹ 1,04,942 crore (Q4 PY ₹ 84,905 crore) an increase of 24% with a Profit after Tax of ₹ 1,795 Crore. The company also reported its highest ever Annual sales revenue of ₹ 3,72,642crore (PY ₹ 2,69,243 crore) a growth of 38% with a Profit after Tax (PAT) of ₹ 6,383 crore.

The domestic sales of HPCL for the period January-March 2022 was 10.26 MMT as compared to corresponding sales of 9.83 MMT in the previous year corresponding quarter, showing a growth of more than 4%.During the financial year HPCL has achieved domestic sales volume of 37.45 MMT as compared to 35.20 MMT in the same period previous year, representing a growth of more than 6%. During the year the company registered market share gain for Total Motor Fuels (TMF) Sales among industry with Petrol and Diesel sales growing by 10.6% and 5.1% respectively over FY21.

With Highest ever LPG Sales of 7.7 MMT during FY22, HPCL continued to be India’s second largest LPG marketer registering a growth of 4.4% over FY21. With Aviation sector picking up momentum, ATF sales witnessed a growth of 30.7% over FY21.

Mumbai Refinery successfully completed one of the most complex expansion projects towards revamping & capacity expansion of the major processing units. The Refinery iscurrently operating at enhanced designed capacity of 9.5 MMTPA andduring Q4 FY22,it has registered highest quarterly crude thruput. During this period, HPCL refineries processed 4.69 MMT Crude as compared to 4.39 MMT Crude processed during Q4 FY21. The thruput of Refineries for full year was 13.97 MMT.Gross Refinery Margin is $ 12.44/bbl for the period January – March 2022 as against $ 8.11 / bbl for the same period in the previous year. The Gross Refinery Margins for the period April – March 22 is $ 7.19 / bbl as against $ 3.86 / bbl during the corresponding period of previous financial year.

HPCL reported consolidated PAT of ₹ 7,294crore for period April-March 2022 as against ₹10,663 crore during the corresponding period of previous year.

 

For the year 2021-22, HPCL has proposed a final dividend of ₹ 14 per share.

Sarkaritel
By Sarkaritel May 19, 2022 18:04