Hindustan Petroleum Corp Ltd on Thursday reported a surge of 256.8% year-on-year in its consolidated net profit for the December quarter of FY25 at Rs 2,543.65 crore from Rs 712.84 crore in the year ago period.
The company’s net profit also rose significantly from Rs 142.67 crore in the second quarter of FY25. The increase in net profit can be attributed to robust refining and marketing margins registered during the quarter.
The company’s revenue from sales of products, however, remained muted at around Rs 1.18 lakh crore.
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The state-owned oil marketing company’s average gross refining margin (GRM) during April – December period stood at $4.73 per barrel as against $9.84 per barrel during the corresponding previous period. The increase in profitability can be attributed to robust physical performance and operational efficiencies in both refining and marketing divisions, coupled with improved margins, the company said.
During the period April-December, HPCL recorded the highest ever crude throughput of 18.53 million tonnes (operating at 106% of the installed capacity) registering an increase of 12.4% over the throughput of 16.49 MMT during Apr-Dec 2023. During Q3FY25, the company’s refineries recorded crude throughput of 6.47 MMT (operating at 111% of the installed capacity), up 21.2% over 5.34 MMT during Q3FY24.
The company also registered a growth of 7.6% in its sales volume at 37.12 MMT (including exports) during April-December period as against 34.49 MMT during the same period last fiscal.
To further strengthen its refining and marketing infrastructure, HPCL invested Rs 2,892 crore during the third quarter including investment in joint venture and subsidiary companies. “This takes the total investment during April-December 2024 to Rs 9,481 crore,” the company said.
The company informed that the construction of all process units of the ongoing 9 MMTPA integrated grassroot Refinery-cum-Petrochemical project at Barmer, Rajasthan is progressing in full swing and is expected to be commissioned during the current calendar year 2025.
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