HPCL reports record consolidated PAT of `13,305 cr for April-Dec 2023

Mumbai: Hindustan Petroleum Corporation Limited (HPCL) has reported Revenue from operations of Rs 1,18,443 crore for the period Oct-Dec 2023. For the period Apr-Dec 2023, the Revenue from operations was Rs 3,40,105 crore.

The Company has reported record nine-month consolidated Profit after Tax (PAT) of Rs 13,305 crore during April-December 2023 against consolidated net loss of Rs 10,589 crore during the corresponding period of previous year. The standalone PAT during this nine-month period was also highest ever at Rs 11,851 crore against the standalone net loss of Rs 12,197 crore during the corresponding period of previous year.

The standalone PAT for Q3 FY24 is Rs 529 crore against net profit of Rs 172 crore during the corresponding period of previous year. The same is lower than the previous quarter primarily due to suppressed marketing margins on select transport fuels and lower refining margins attributable to lower cracks & falling crude prices during the period.

Average GRMs (Gross of export duty) for the period Oct-Dec 2023 were $8.49 per barrel ($9.14 per barrel during the corresponding period of previous year). The Average GRMs (Gross of export duty) for the period Apr-Dec 2023 were $9.84 per barrel ($11.40 per barrel during the corresponding period of previous year).

The Board has approved Interim Dividend of 150 per cent i.e. Rs 15 on each equity share of Rs 10. Mpost