Hindustan Petroleum Corporation Ltd's Q1FY19 standalone net profit rises 85.91% yoy to Rs1,719.21cr : Beats Estimates

The company’s standalone revenue stood at Rs67,628.9cr, up 26% yoy.

Aug 08, 2018 01:08 IST India Infoline Research Team

Hindustan Petroleum Corporation Ltd Q1FY19

Standalone Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
Revenue 67,628.9 26
EBITDA 3,190.7 96
EBITDA Margin (%) 4.7 167
Net Profit 1,719.2 85.9
***EBITDA margin change is bps

Hindustan Petroleum Corp Ltd's (HPCL) Q1FY19 results beat the estimates. Net Revenue grew by 26% yoy to Rs67,628.9cr against Rs53,468.5cr in Q1FY18, marginally missing the estimate (Rs70,986cr). EBITDA for the quarter grew by 96% yoy to Rs3,190.7cr against Rs1,628cr, beating the estimate (Rs2,584cr). EBITDA margin grew by 167bps yoy to 4.7%. Net profit for the quarter grew by 85.9% yoy to Rs1,719.2cr against Rs924.7cr last year, beating the estimate (Rs1,444cr).

• Average Gross Refining Margin during the quarter was $7.15 per/bbl beating the estimate ($6.1/bbl)
• Crude throughput grew by 0.7% yoy to 4.52MMT against 4.49MMT while Pipeline throughput was up 17% YoY
• Domestic sales grew by 4.8% yoy to 9.64MMT. Volume growth was driven by Petrol, LPG, lubricants and Bitumen.
• HPCL did not bear any subsidy burden during the quarter.

Technical View:

Hindustan Petroleum Corporation Ltd ended at Rs. 282.40, down by 6.2 points or 2.15% from its previous closing of Rs. 288.60 on the BSE.
The scrip opened at Rs. 289.05 and touched a high and low of Rs. 291 and Rs. 281.10 respectively. A total of 46,06,483 (NSE+BSE) shares were traded on the counter. The stock traded above its 200 DMA.

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