HPCL Reports Nine Year High Quarterly Standalone Profit For Q4 FY22-23 At ₹ 3,223 Crore, Consolidated Profit For Q4 At ₹ 3,608 Crore

Mumbai, 13^thMay 2023

Financial Performance Update

Hindustan Petroleum Corporation Limited (HPCL) hasreported a Nine Year HighQuarterly Standalone Profit after Tax (PAT)of ₹3,223 crore during Jan-Mar 2023 as compared to Standalone Profit after Tax of ₹1,795crore during the corresponding period of previous year, an increase of 80%.The Consolidated PAT during this period was ₹ 3,608croreas compared to Consolidated PAT of ₹ 2,018crore during the corresponding period of previous year.

HPCL has reported Revenue from operations of ₹ 1,14,445 crore for the period Jan-Mar 2023registering growth of 8.7% over the corresponding period of previous year (₹1,05,288 crore). For the period Apr-Mar 2023, the growth in Revenue from operations was 24.7% taking the same to Highest Ever Revenue from Operations of ₹4,66,192crore as compared to ₹3,73,897 crore during the corresponding period of previous year.

For the FY 22-23, exceptionally highinternational oil prices along with suppressed marketing margins on select Transport fuel, had severely impacted the profitability, resulting in Net Loss of ₹8,974 crore for Apr-Mar 2023as compared to Profit after Tax (PAT) of ₹ 6,383 crore during the corresponding period of previous year.

On a consolidated basis, HPCL reported Net Loss of ₹ 6,980 crore for period Apr-Mar 2023 as compared toconsolidated PAT of ₹7,294 crore during the corresponding period of previous year.

Average GRMs (Gross of export duty) for the period Jan-Mar 2023 were US$ 14.01 per barrel (US$ 12.44 per barrel during the corresponding period of previous year) and Average GRMs (Gross of export duty) for period Apr-Mar 2023 were US$ 12.09 per barrel compared to US$ 7.19 per barrel during the corresponding period of previous year.