Table of Content
Hindustan Petroleum Corporation Limited Q3 Results Performance Update (HPCL):
Revenue and Profit:
- Revenue from operations for Oct-Dec 2023: ₹1,18,443 crore; Apr-Dec 2023: ₹3,40,105 crore.
- Record Nine-Month Consolidated Profit after Tax (PAT) for Apr-Dec 2023: ₹13,305 crore.
- Standalone PAT for Apr-Dec 2023: Highest ever at ₹11,851 crore.
- Standalone PAT for Oct-Dec 2023: ₹529 crore, lower than the previous quarter due to suppressed marketing margins and lower refining margins.
Refining Performance:
- Highest-ever crude throughput of 16.49 MMT during Apr-Dec 2023, operating close to 104% of installed capacity.
- Crude throughput during Oct-Dec 2023: 5.34 MMT, up 10.6% over the same period in 2022.
- Highest-ever quarterly sales volume (including exports) of 11.90 MMT during Oct-Dec 2023, representing a growth of 5.8%.
Additional Read: Q3 Results Dashboard
- HPCL outpaced PSU industry sales growth with a quarterly growth of 3.2% during Oct-Dec 2023.
- Domestic sales volume during Apr-Dec 2023: 32.87 MMT, with a growth of 5.1%.
- Total Market Share Gain of 0.42% during Apr-Dec 2023 amongst PSUs.
- Market Share Gain in key products like Aviation Fuel, Petrol, Diesel, and LPG during Oct-Dec 2023.
Dividend and Financial Investment:
- Board approved Interim Dividend of 150%, i.e., ₹15 on each equity share of ₹10.
- Investments of ₹10,350 crore during Apr-Dec 2023, including equity investment in JVCs and subsidiaries.
Projects and Expansion:
- Progressive commissioning of units at Vishakhapatnam Refinery, achieving the highest-ever crude throughput.
- Received regulatory approvals for setting up Wholly Owned Subsidiary for Renewable & Green Energy portfolio.
- Investing in the lube business line, developing a marketing strategy and a long-term roadmap.
Ongoing Initiatives:
- HP Green R&D Centre signed an MoU with BASF India Ltd for joint development in PSA adsorbents.
- Achieved Ethanol blending of 11.63% during Apr-Dec 2023, blending approximately 37.66 Cr. Litres of Ethanol in Petrol.
- Expanded facilities, including E20, CNG, Electric Vehicle (EV) charging, and solar panels at retail outlets.
Environmental Impact:
- Installed solar panels at 740 Retail Outlets during the quarter, contributing to over 55% of HPCL’s retail outlet network powered by renewable energy.
- Generated 15.38 Cr kWh Renewable Energy during Apr-Dec 2023, reducing the carbon footprint by 1.26 lakh Tonnes.
Awards and Accolades for HPCL:
1. Excellence in Automation Award: Received at the 5th edition of India STEM Summit & Awards’23.
2. Sarvashreshtha Suraksha Puraskar (Golden Trophy): Conferred to Mundra Delhi Pipeline for the year 2023 by the National Safety Council of India.
3. Emerging Brand of the Year Award: Power95 awarded during the Global Marketing Excellence Awards held in Mumbai.
4. Excellence in Digital Transformation Award: Recognized at ACEF Global Awards 2023 for outstanding achievements in digital transformation.
5. Best Use of Technology in Loyalty Programs Award: Drive Track Plus honored at the 4th Annual Digital Transformation Summit & Awards 2023 for innovative use of technology in loyalty programs.
Additional Check: Hindustan Petroleum Share Price
About Hindustan Petroleum Corporation Limited (HPCL)
Hindustan Petroleum Corporation Limited (HPCL) is a state-owned company that operates in the petroleum and natural gas industry in India. It is a subsidiary of Oil and Natural Gas Corporation (ONGC) and a Maharatna company. It has a refining capacity of 14.80 million metric tonnes and a net income of ₹1,740 crores as of 2013. It offers a range of products and services, such as petrol, diesel, LPG, lubricants, aviation fuel, natural gas, biofuels, and petrochemicals. It also has a research and development wing and several subsidiaries and joint ventures.
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Sources: https://www.bseindia.com/xml-data/corpfiling/AttachLive/38fa9237-4723-447f-a857-4bdde5e79a0e.pdf