Hindustan Petroleum Corporation Ltd. (HPCL) reported a more than threefold jump in consolidated net profit to ₹2,544 crore for the third quarter ended December 31, 2024, compared with ₹713 crore in the year-ago period.
Consolidated sales revenue grew marginally to ₹1,18,513 crore from ₹1.18,027 crore in the same period last year.
The company’s standalone profit after tax (PAT) during the quarter grew sharply to ₹3,023 crore from ₹529 crore in the year-ago period. “The increase in profitability (by 379% over 2Q FY25, and 471% over 3Q FY24) is attributable to robust physical performance and operational efficiencies in both Refining and Marketing divisions, coupled with improved margins,” the company said in a statement.
Average Gross Refining Margin during Q3 FY25 was lower at US$ 6.01 per barrel as compared with US$ 8.49 per barrel during the year-ago period.
During the quarter, the refineries of HPCL recorded crude thruput of 6.47 MMT, operating at 111% of the installed capacity, registering an increase of 21.2% over the thruput of 5.34 MMT during the year-ago period.
The company also recorded the highest-ever quarterly sales volume of 12.87 MMT including exports, registering a growth of 8.2% as against 11.90 MMT during the same period last year.
In the domestic front, HPCL achieved sales volume growth of 8.2% during the quarter, as against industry growth of 6.3%. “Despite rigorous competition by other public sector Oil Marketing Companies and private players, HPCL recorded market share gain of 0.36% during 3QFY24,” it said.
Published – January 23, 2025 08:58 pm IST
