Hindustan Petroleum Corporation Ltd (HPCL) saw a 3% rise in its stock price following an impressive October-December quarterly performance. The company reported a standalone net profit (PAT) of Rs 3,023 crore for Q3FY25, marking a 471% year-on-year increase.
The remarkable growth in profitability is driven by strong performance across its Refining and Marketing divisions, coupled with operational efficiencies and improved margins. Revenue for the quarter stood at Rs 1,18,936 crore, slightly higher than the Rs 1,18,443 crore in the previous year.
However, the average Gross Refining Margin (GRM) was US$ 6.01 per barrel, lower than the US$ 8.49 per barrel recorded in Q3FY24.
In other updates, Citi maintained a “Buy” rating on HPCL with a target price of ₹450 per share. The brokerage highlighted strong Q3 EBITDA growth and sequential improvement in refining and marketing margins. However, higher forex losses, staff costs, and inventory losses impacted estimates. All eyes remain on the upcoming budget for possible compensation to oil marketing companies (OMCs) for LPG losses.
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