HPCL Q2 Result | Net loss at Rs 2,172 crore, revenue down 5% QoQ

Sarkaritel
By Sarkaritel November 3, 2022 17:19

HPCL Q2 Result | Net loss at Rs 2,172 crore, revenue down 5% QoQ


Mumbai, Nov 03: Hindustan Petroleum Corporation Limited (HPCL) has reported Revenue from operations of ₹­­­­­­1,14,172crorefor the period July-Sep 2022registering growth of 30% over Revenue from operations during the corresponding period of previous year (₹ 87,600crore). For the period Apr-Sep 2022, the growth in Revenue from operations was 43% with revenue at ₹­­­­­­2,35,621crore as compared to ₹1,65,186 crore during the corresponding period of previous year.

With changed input cost dynamics during Q2 FY22-23, the Company was able to negotiate better prices and partially mitigate the effect of high costs. Nonetheless, high input costs and consequent depressed marketing margins continued to impact the profitability, resulting in Net loss of ₹ 2,172 crore during July-Sep 2022 (after factoring one-time grant towards LPG Under-recoveries) as compared to Profit after Tax (PAT) of ₹ 1,924 crore during the corresponding period of previous year. For the period Apr-Sep 2022, Net Loss was ₹ ­­­­­­12,369crore as compared to Profit after Tax (PAT) of ₹ 3,719 crore during the corresponding period of previous year.

HPCL reported consolidated Net Loss of ₹ 11,033 crore for period Apr-Sep 2022 as compared toconsolidated PAT of ₹ 3,923 crore during the corresponding period of previous year. 

HPCL refineries at Mumbai and Visakh processed crude thru-put of 4.49Million Metric Tonnes (MMT) during July-Sep 2022 (2.53 MMT crude processed during the corresponding period of previous year). The thru-put during Apr-Sep 2022 period was 9.30 MMT as compared to 5.04 MMT crude processed during Apr-Sep 2021.

Average GRMs (Gross of export duty) for the period July-Sep 2022 were US$ 8.41 per barrel (US$ 2.44 per barrel during the corresponding period of previous year) and Average GRMs (Gross of export duty) for period Apr-Sep 2022 were US$ 12.62 per barrel compared to US$ 2.87 per barrel during the corresponding period of previous year.

During July-Sep 2022, HPCL achieved totalsales volume of 10.39 MMT (9.10 MMT during corresponding periodof previous year) representing a growth of 14.2%. The total sales volume during Apr-Sep 2022 was 21.09 MMT (17.93 MMT during corresponding periodof previous year) with growth of 17.6%.

Sarkaritel
By Sarkaritel November 3, 2022 17:19

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