HPCL Q3 Results updates: Net Profit fell 90% to Rs 529 crore, shares plunges to 6.5%

The oil refining PSU HPCL [Hindustan Petroleum Corporation Limited] has declared the Q3 results for the October-December 2023 period reporting a net profit of Rs 529 crore despite 90% decline of QoQ.

HPCL Q3 Results updates: Net Profit fell 90% to Rs 529 crore, shares plunges to 6.5%

The total revenue is accorded to 1.18 lakh crore, up to 15% QoQ. As per official review, the company’s EBITDA stood at Rs 2164 crore as against Rs 8217 crore in the previous quarter. It is reported that the EBIT margin is at 1.9 percent as compared to 8.6 percent in the previous quarter. The company has also declared a 150 percent dividend payout for the eligible shareholders at a face value of Rs 10 per share. This would make Rs 15 dividend per equity share.

The revenue from operations, net of excise duty has risen moderately by 2% YoY to Rs 1.11 lakh crore. The stock has declined over 6.5% to Rs 422 on BSE. The total expenses, including excise duty and finance cost surged to Rs 1.18 lakh crore from Rs 1.16 lakh crore and Rs 96,221 crore, previous year.

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The operating margins on other hand, contracted sharply to 0.70% from 6.80%. Meanwhile, the average gross of export duty for the period of October to December were stood at $8.49 per barrel. The company has significantly achieved its highest ever quarterly sales volume, including exports of 11.90 MMT during Q3 as compared to 11.25 MMT during corresponding previous year’s data.

The crude throughput this quarter stands at 5.34 million versus 5.75 million in previous quarter and pipeline stood at 6.71 million tonnes. The domestic sales volume increased to 11.36 million tone in Q3 FY24 from 10.95 million tonnes year on year and 10.08 million tonne quarter on quarter.

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