Hindustan Petroleum Corporation Limited (HPCL), a state-owned fuel retailer, has announced its financial results for the first quarter of the fiscal year.
The company reported consolidated net profit of Rs 633.94 crore for first quarter of financial year 2024-25, a decline of 90.6 percent from the year-ago period.
Key Financial Highlights of HPCL Q1:
– Net Profit: HPCL’s standalone net profit fell by 94.2% year-on-year to ₹355.80 crore, compared to ₹6,203.90 crore in the same quarter last year.
– Revenue: Revenue increased by 1.4% year-on-year to ₹1,20,358.59 crore.
– Sequential Performance: Profit after Tax (PAT) dropped 88% from the previous quarter, missing market expectations.
– EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) decreased by 56% quarter-on-quarter to ₹2,108 crore.
– Margins: Margins fell to 1.9% from 4.2% in the previous quarter.
Key Factors Affecting Profit:
HPCL faced challenges with suppressed marketing margins on certain petroleum products and reduced refining margins during the quarter. Gross refining margins averaged $5.03 per barrel, a decrease from $7.44 per barrel in Q1 FY24. Despite these issues, the company achieved a 6.7% increase in crude throughput, reaching 5.76 MMT year-on-year, even with planned refinery shutdowns.
HPCL Sales and Market Performance:
– Quarterly Sales Volume: Highest-ever at 12.63 MMT, up 6.6% year-on-year.
– Motor Fuels Sales: Rose by 2.7% to 8.02 MMT.
– LPG Sales: Increased by 8.7% to 2.07 MMT.
– Aviation Business: Sales volume grew by 31.3% to 261 TMT, with a new refuelling facility opened in Kanpur.
– Lubricants Sales: Up 3% to 152 TMT.
– Petrochemical Sales: Achieved a record 30.3 TMT, introducing a new grade HDPE Raffia.
– Pipeline Throughput: Recorded highest-ever throughput of 6.83 MMT.
HPCL shares closed 1.43% higher on Monday at ₹381.95 on NSE.
