Millennium Post

HPCL quarterly net up 66 % on record sales

Hindustan Petroleum Corporation Ltd (HPCL) has registered a gross sales growth of 14.6  per cent to Rs 2,15,675 crore for fiscal 2012-13 from Rs 1,88,131 crore in the previous financial year. The sales of petroleum products in the domestic market was at an all time high of 29.07 million tonnes (mt) during 2012-13, marking an increase of 4.6 per cent over the previous year year's growth. This is substantially higher than the industry-wide growth rate of 3.6 per cent.

HPCL's pipeline thruput increased to 14.04 mt in 2012-13 against 13.62 mt in 2011-12..  The refineries at Mumbai and Vishakhapatnam processed 15.78 mt of crude during FY13 while the combined GRM for the year was $$ 2.08 /bbl.

HPCL's profit after tax (PAT) for the fourth quarter (January-March 2013) of 2012-13  increased by 66  per cent to Rs 7,679 crore from R 4,631 crores in the corresponding quarter of the previous year. Its profit before tax (PBT) for the full year too was higher by 21 per cent at Rs 1,475 crore.. The profit after tax (PAT) for the full year was Rs 905 crore compared to Rs 911 crores in the previous year, mainly due to higher provisions for tax.

Hindustan Petroleum Corporation Ltd has proposed a dividend of  R 8.50 per share for 2012-13, which would result in a total payout of Rs 337 crore including dividend distribution tax.

In March 2013 an MoU was signed between Hindustan Petroleum Corporation Ltd and the Rajasthan Government for the setting up of a state-of-the-art 9-mmtpa refinery-cum-petrochemical complex in Barmer District. The refinery will be set up at an estimated investment of Rs 37,230 crore.
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