HPCL Q4 FY24 net profit falls 25% YoY to Rs 2,709 crore

The Board recommends Bonus Equity Issue and Final Dividend with Highest ever Annual Consolidated Profit of Rs 16,015 Crores, 4QFY24 PAT jumps by 437% over 3QFY24 PAT.

HPCL Q4 FY24 net profit falls 25% YoY to Rs 2,709 crore

Exceptional Financial Performance by Hindustan Petroleum Corporation Limited (HPCL) has been reported with stellar financial performance with a record Consolidated Profit after Tax (PAT) of Rs 16,015 crore during FY 2023-24.

The Standalone PAT during FY 2023-24 was also the highest ever at Rs 14,694 crore (Standalone Net Loss of Rs 8,974 crore during the previous financial year). The Standalone PAT for the period Jan-Mar 2024 is Rs 2,843 crore registering an increase of 437% over PAT of Rs 529 crore reported during the previous quarter Oct-Dec 2023. (PAT during the January 2023 was Rs 3,223 crore).

Read Also : NCL to install Solar Pumps in 33 Gaushala of Singrauli

The Company has reported Revenue from operations of Rs 1,21,532 crore for the quarter Jan-Mar 2024 registering an increase of 6.2% over Revenue from operations of Rs 1,14,445 crore reported for the corresponding quarter of the previous year. For the FY 2023-24, the Revenue from operations stood at Rs 4,61,638 crore (Rs 4,66,192 crore during the previous year).

The Board of Directors has recommended the issue of bonus shares in the ratio 1:2 i.e., one new bonus equity share of Rs 10 each for every two existing equity shares of Rs 10 each fully paid up, subject to the approval of members of the company.

The Board of Directors has recommended a Final Dividend of Rs 16.50 per equity share having a face value of Rs 10 (pre-bonus), which translates into a final dividend of Rs 11.00 per equity share having a face value of Rs 10 (post-bonus) for FY 2023-24, subject to approval by the members

Read Also : Federal Bank Unveils UPI-Enabled RuPay Wave Credit Card

 This final dividend is in addition to the interim dividend (pre-bonus) paid for the FY 2023-24 at Rs 15 per equity share having a face value of Rs 10. Physical Performance shows HPCL Refineries processed the highest ever crude thru-put of 22.33 MMT during the Year operating at 103.3% of the installed capacity, registering an increase of 17% over crude thru-put of 19.09 MMT processed during FY 2022-23.

The company also achieved market share gain of 0.47% amongst PSU Oil Marketing companies.

Read Also : Indian Oil, GPS Renewables Pvt. Ltd form Joint Venture for Sustainable Energy Solutions