HPCL’s Q2 Profit after tax of Rs 1,924 Crore

By Sarkaritel November 2, 2021 21:33

HPCL’s Q2 Profit after tax of Rs 1,924 Crore

New Delhi, Nov 02: Hindustan Petroleum Corporation Limited has recorded Profit after Tax (PAT) of ₹ 1,924crore for the quarter ended 30th September 2021 vis a vis a PAT of ₹1,795 crore for the previous quarter recording 7.2% growth. For the period April-September 2021, HPCL recorded a PAT of ₹3,719crore. 

Gross sales for the quarter stood at ₹ 87,311 crore as compared to ₹61,340 crore during the corresponding previous year period. For the period April to September’21, HPCL recorded gross sales of₹ 1,64,619 crore as compared to ₹1,07,225 crore of corresponding period of the previous year.

DuringQ2, HPCL has achieved the domestic sales volume of8.79 MMT as compared to 8.10MMT of previous year for same period representing a growth of more than  8%. The domestic sales of HPCL for the period April-September 2021 was 17.24 MMT as compared to corresponding sales of 15.34MMT in the previous year, showing a growth of 12%. The major petroleum product has shown growth, with sale of ATF grew by 63%, MS by 23%, HSD by 15% and LPG by 4% during the period April-September’2021. Compared to same period in the previous year.

HPCL Mumbai Refinery completed one of the most complex revamp and hook up jobs as a part of Mumbai Refinery Expansion Project in this quarter for which Mumbai Refinery  had taken a shutdown since April 2021. Mumbai Refinery Expansion Project jobs are completed. Major units are commissioned and are in advance stage of stabilization. This will increase the thruput capacity of Mumbai Refinery from 7.5 MMTPA to 9.5 MMTPA with enhanced energy efficiency.  The CDU III unit of Visakh refinery which had a fire incident in May 2021 was restarted after completing necessary inspection and repair.

activities. Visakh Refinery is now operating at its full capacity. Inspite of above, HPCL refineries processed 5.04million metric tonnes of crude during April-September, 2021.The Pipeline thruput for the period April- September 2021 is  9.09MMT.

The combined GRM for the period July-September 2021 is US$ 2.44 per barrel as compared to US$ 5.11 per barrel in the corresponding previous period. The combined GRM for the half-year April- September 2021 works out to US$ 2.87per barrel compared to US$ 2.58 per barrel in the corresponding previous period. The GRM though helped by better product cracks, was impacted due to higher Fuel and Loss component in view of shutdown, startup and stabilization activities at both the refineries. GRM was also impacted due to higher crude cost.

HPCL reported consolidated PAT of ₹ 3,923 crorefor period April-September 2021 as against Rs. 5,228crore during the corresponding period of previous year.

During the quarter, 440new retail outlets were commissioned taking the total retail outlet network to 19,216 as of September 2021. HPCL also commissioned 11new LPG distributorships during the quarter taking the total LPG distributorships to 6,208 as of September 2021.During the quarter, HPCL has commissioned 517 solar facilities at its retail outlets, taking the total number to 5,192 ROs with solar facilities.

To ensure availability of alternate fuels and offering more choices to customers, CNG facilities were commissioned at 135 retail outlets during April to September 2021, taking the total number of retail outlets with CNG facilities to 809. As on September 2021, EV charging facilities were provided at 327 stations were provided at HPCL retail outlets. 487 Mobile dispensers were also commissioned.

During the quarter, HPCL launched its Branded Store “Happy Store” in Mumbai making its foray into non-fuel retailing. HPCL plans to come up with more such Club HP “Happy Shops” in Mumbai and other major cities of the country at its Retail Outlets. To cater to the growing number of high-end vehicles, HPCL also launched power 100, Ultra-Premium Grade Petrol with Octane rating of 100. In addition, to extend the digital payment options to the customers, HPCL has also enabled fuel payments using ICICI Bank FASTagwhich has been integrated into the HPCL’s loyalty program ‘Drive truck Plus’ for commercial and fleet customers.

Towards promotion of bio fuels in transportation, HPCL continued to participate in Ethanol Blending Program and achieved an overall Ethanol blending percentage of 8.96%, which is highest in the industry during H1. During the quarter, HPCL commenced Ethanol Blending in Sikkim thereby achieved Ethanol Blending in all States/ UTs of India. HPCL has also released 76 LOIs during the period April to September 2021 for Compressed Bio Gas (CBG) making total LOIs issued so far to 227 with a production capacity of 466 TMTPA of CBG.

HPCL R & D Centre at Bengaluru has received 110 patents,which includes many international patents, in the last 5 years making it one of the fastest growing R & D facilities in India.

53 POL locations were converted to ‘Smart Terminals’ as on September 2021, with end to end automation towards enhanced operational efficiency, safety and stakeholder convenience.

During the quarter, HPCL commissioned a new LPG Plant at Goalpara, Assamwith a capacity of 30 TMTPA. A newAviation Service Facility (ASF) at Rupsi (Assam) was commissioned in July 2021 under Regional Connectivity Scheme (RCS) of GoI.

The works on major projects like HPCL’s Visakh Refinery Modernization Project (VRMP), Rajasthan Refinery Project (HRRL), Chhara LNG Regasification Terminal, Vijayawada-Dharmapuri product pipeline, Hassan-Cherlapalli LPG Pipeline, Barmer–Palanpur Product Pipeline etc. are progressing well.

By Sarkaritel November 2, 2021 21:33