Hindustan Petroleum Corporation Ltd's Q3FY19 standalone net profit declines 87.3% yoy to Rs247.55cr: Beats Estimates

The company’s standalone revenue stood at Rs72,111.82cr, up 25.4% yoy.

Feb 05, 2019 06:02 IST India Infoline Research Team

Hindustan Petroleum Corporation Ltd Q3FY19

Standalone Results Q3FY19: (in Rs cr)

Q3FY19 YoY (%)
Revenue 72,111.82 25.4
EBITDA 963.20 [69.8]
EBITDA Margin (%) 1.3 [420]
Net Profit 247.55 [87.3]
***EBITDA margin change is bps

Hindustan Petroleum Corporation Ltd's (HPCL) Q3FY19 numbers beat the estimates on the revenue and EBITDA fronts. Net revenue in the quarter grew 25.4% yoy to Rs72,111.82cr against Rs57,501.84cr in Q3FY18, beating the estimates of Rs67,592cr. EBITDA for the quarter declined 69.8% yoy to Rs963.2cr against Rs3,185.79cr. EBITDA margin declined 420bps yoy to 1.3%. Net profit for the quarter declined 87.3% yoy to Rs247.55cr against Rs1,949.69cr last year, almost in-line with the estimates of Rs270cr.

• Crude throughput grew 1.3% yoy to 4.56mmt in Q3FY19 against 4.5mmt in Q3FY18.
• Domestic sales grew 2.3% yoy to 9.44mmt in Q3FY19 against 9.23mmt.
• Pipeline throughput grew 1% yoy to 5.22mmt against 5.17mmt.
• Average gross refining margin during the nine months ended December 31, 2018, was $5.17/bbl as against $7.51/bbl during the corresponding period of the previous year.

Technical View:

Hindustan Petroleum Corporation Ltd share price ended at Rs225, down 1.95 points, or 0.86%, from its previous close of Rs226.95 on the BSE. The scrip opened at Rs228 and touched a high and low of Rs228 and Rs224.30, respectively. A total of 52,89,789 (NSE+BSE) shares were traded on the counter. The stock traded above its 200-DMA.

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