HPCL Q3 results: Share price surges 5%, net profit rises 257% YoY to Rs 2,544 crore

According to the financial results, the company's net profit increased 257% Y-o-Y to Rs 2,544 crore as compared to Rs 712.84 crore a year ago. Sequentially, the profit increased by 16.83 folds. 

HPCL Q3 results: Share price surges 5%, net profit rises 257% YoY to Rs 2,544 crore
HPCL Q3 results: Share price surges 5, net profit rises 257 YoY to Rs 2,544 crore

State-owned Hindustan Petroleum Corporation shares rose 4.9% on Friday, making an intraday high at Rs 380 per share. The northward movement in the stock came after the company announced a multi-fold increase in consolidated net profit year-on-year. 

According to the financial results, the company's net profit increased 257% Y-o-Y to Rs 2,544 crore as compared to Rs 712.84 crore a year ago. Sequentially, the profit increased by 16.83 folds. 

The revenue of the company for the quarter under review stood at Rs 1,18,513.22 crore as compared to Rs 1,18,027.14 crore a year ago which implies a rise of 0.4% Y-o-Y. On a quarter-on-quarter (Q-o-Q) basis the revenue increased by 10%. 

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As per the company's filing, during the period April-December 2024, HPCL refineries recorded the highest ever crude thruput of 18.53 MMT, operating at 106% of the installed capacity, registering an increase of 12.4% over the thruput of 16.49 MMT during April-December 2023. 

During Q3FY25, the refineries recorded crude thruput of 6.47 MMT, registering an increase of 21.2% over the thruput of 5.34 MMT during 3QFY24. During the quarter, Visakh Refinery added a new product ‘Solvent 3275’ to its basket of products.

In the nine months that ended December 31, 2024, the company also recorded the highest-ever sales volume of 37.12 MMT (including exports) registering a growth of 7.6% as against 34.49 MMT a year ago. 

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Oil marketing companies, Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC) and HPCL-- gained over 5% in trade after crude oil prices declined. Oil prices slipped after US President Donald Trump urged Saudi Arabia and OPEC to bring down their costs during his address at the World Economic Forum. Brent crude futures were down 0.09% at $78.22 a barrel. 

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