Hindustan Petroleum Corp Ltd (HPCL) has reported a significant increase in its consolidated net profit for the January-March period, with a 79% growth to Rs 3,608 crore compared to Rs 2,018 crore in the same period last year. The company’s revenue from operations also showed a rise of 9% to Rs 1.14 lakh crore for the quarter under review, compared to Rs 1.05 lakh crore in the corresponding quarter of the previous fiscal.
The impressive results were driven by the company’s efforts to streamline its operations and focus on efficiency. HPCL’s management team had implemented a range of measures to improve operational efficiency, reduce costs and enhance customer service. This helped the company to achieve better margins and increase its profitability.
HPCL’s Chairman and Managing Director, Mukesh Kumar Surana, commented on the results, saying, “We are pleased to report a strong set of financial results for the fourth quarter of the fiscal year. Our efforts to drive operational efficiency and reduce costs have paid off, enabling us to deliver strong margins and robust earnings growth.”
The company’s refining business was a key driver of its growth, with the segment’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rising to Rs 3,754 crore in the January-March period, up from Rs 1,987 crore in the same period last year. This was driven by a higher gross refining margin (GRM) of $8.11 per barrel compared to $5.01 per barrel in the same period last year.
HPCL’s marketing segment also performed well during the quarter, with sales volumes growing by 9% year-on-year to 10.03 million metric tonnes (MMT). The segment’s EBITDA increased to Rs 1,556 crore, up from Rs 1,189 crore in the same period last year.
The company’s other segments, including LPG, aviation fuel, and lubricants, also showed growth during the quarter. LPG sales volumes rose by 7% year-on-year, while aviation fuel sales volumes increased by 29%. Lubricants sales volumes grew by 12% year-on-year, driven by the launch of new products and a focus on customer engagement.
HPCL’s strong financial performance in the fourth quarter of the fiscal year was also supported by its focus on capital efficiency and financial discipline. The company had successfully raised Rs 10,000 crore through a bond issue during the quarter, which helped to strengthen its balance sheet and support future growth initiatives.
Looking ahead, HPCL is well positioned to continue its growth trajectory in the coming years. The company is focused on expanding its refining and marketing capacity, as well as investing in new technologies and products to better serve its customers.
HPCL is also exploring new business opportunities in the renewable energy space, with plans to invest in solar and wind energy projects. The company is committed to reducing its carbon footprint and contributing to India’s ambitious renewable energy targets.
HPCL’s marketing segment also showed strong growth during the quarter, driven by higher sales volumes and better margins. The company’s retail network continued to expand, with the addition of several new outlets across the country. This helped to increase the company’s market share and improve its overall performance.
HPCL’s focus on operational efficiency and cost control was evident during the quarter, as the company managed to reduce its operating expenses by 4% year-on-year. This helped to improve the company’s profitability and strengthen its financial position.
In conclusion, HPCL’s strong financial performance in the fourth quarter of the fiscal year underscores the company’s commitment to operational efficiency, cost control, and customer service. With a focus on expanding its capacity and investing in new technologies and products, HPCL is well positioned to continue its growth trajectory and deliver long-term value for its shareholders.
