HPCL Q3 results have shown a significant increase in net profit, soaring by 471% to Rs 3,023 crore.
Hindustan Petroleum Corporation Limited (HPCL) reported a significant 471 percent increase in standalone net profit, reaching Rs 3,023 crore for the quarter ending on December 31, 2024. This surge was attributed to improved margins and a weak base, with the company reporting a net profit of Rs 529 crore in the same period the previous year.
The state-run oil retailer saw its net profit rise by 379 percent sequentially, with a profit of Rs 631.18 crore in the September quarter. HPCL’s total income also saw a marginal increase to Rs 1,19,415 crore in Q3FY25 compared to Rs 1,19,000 in the previous year.
The company’s profits in Q3FY25 were driven by high marketing margins, declining crude oil prices, and increased domestic sales during the quarter. HPCL’s crude throughput for the quarter was 6.47 million metric tonnes, up from 5.34 MMT the previous year.
In terms of marketing, HPCL achieved quarterly market sales of 12.32 MMT during Oct-Dec 2024, compared to 11.36 MMT the previous year, with exports totaling 0.55 MMT.
HPCL reported an average Gross Refining Margin (GRM) of $4.73 per barrel for the Apr-Dec period, down from $9.84 per barrel in the corresponding previous period. The company did not provide GRM for the third quarter.
On January 23, HPCL’s shares on BSE closed 2.3% lower at Rs 361.45 apiece.
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