HPCL’s Q1 Net Profit records 86% growth over previous year’s Q1

Sarkaritel
By Sarkaritel August 8, 2018 20:55


Hindustan Petroleum Corporation Limited (HPCL)has recorded Profit After Tax (PAT) of ₹ 1719crore during April-June 2018 as against ₹ 925 croreduring April-June 2017. Earnings per Share also increased to Rs 11.28 per share vis-a-vis Rs 6.07 per share of previous year corresponding quarter.

Revenue for the quarter was ₹ 72,923croreas compared to revenue of ₹ 59,891 crore during the first quarter of the previous year.

The increase in profit is primarily because of higher refining margins due to inventory gains and also due to increased refining throughput and sales volume, as compared to the corresponding period of previous year.

In this Quarter, though crude prices have increased significantly (for HPCL Basket from $ 49.8/bbl to $ 73.0/bbl) leading to Inventory gains which improved gross refinery margins, a part of it was offset by lower cracks specially in LPG & Bitumen and higher value of fuel in refineries.

The refineries at Mumbai and Visakh processed 4.52 Million Metric Tonnes (MMT) of crude during April-June, 2018 as against 4.49 MMT during April-June, 2017. The combined GRM during the quarter increased to US$ 7.15/bbl. as compared to US$ 5.86/bbl. during the corresponding previous period.

During April-June 2018, HPCL achieved the highest ever quarterly domestic sales volume of 9.63 MMT with a growth of 5% over historical. The sales of Motor Spirit (Petrol) increased by 6.9%, High Speed Diesel by 2.7%, LPG by 11.3%, Aviation Turbine Fuel by 9.9%, and Lubes by 22.9% as compared to Q1 of 2017-18.Pipeline throughput increased to 5.45 MMT with an impressive growth of 17% over corresponding previous quarter April-June,2017.

Sarkaritel
By Sarkaritel August 8, 2018 20:55