HPCL’s Profit after tax of Rs 2,814 Crore during April-June 2020

Sarkaritel
By Sarkaritel August 6, 2020 18:20

HPCL’s Profit after tax of Rs 2,814 Crore during April-June 2020


Hindustan Petroleum Corporation Limited (HPCL) has recorded Profit after Tax (PAT) of ₹ 2,814 crore during April-June 2020 as against ₹ 811 crore during April-June 2019 and ₹ 27 crore during Jan-March 2020. The above was achieved despite the challenges of Covid Pandemic due to relatively better physical performance in the market sales and higher capacity utilization in Refineries. Gross sales for the quarter is ₹ 45,885 crore as compared to ₹ 74,530 crore during the corresponding previous period.

During April-June 2020, HPCL achieved domestic sales volume of 7.24 MMT against 9.82 MMT in previous year for the same period representing a de-growth of 25.8% as against de-growth of 29.2% for PSU OMC. During the quarter, the sales of domestic packed LPG increased by 24.7% while retail MS and HSD reduced by 37% and 32.4% respectively compared to same period last year.

HPCL figured as the third strongest brand amongst all the companies (public and private) in India in the list published for 2020 by ‘Brand Finance’, a reputed international brand valuation agency.

The refineries at Mumbai and Visakh processed 3.97 Million Metric Tonnes (MMT) of crude during April-June, 2020 as against 3.92 MMT during April-June, 2019. HPCL refineries registered a capacity utilization of 101% during the period. The combined GRM of the refineries during the quarter was USD 0.04 per barrel as against USD -1.23 per barrel during Q4 of FY 20 and USD 0.75 per barrel during the same period last year. The benchmark Singapore GRM during April – June 2020 is USD -0.93 per barrel. The weaker trend on product cracks continued to keep GRMs suppressed. The Pipeline thruput for the period April- June 2020 is 3.54 MMT.

Sarkaritel
By Sarkaritel August 6, 2020 18:20