HPCL reports 95.5% y-o-y decline in Q2 net profit

25 Oct 2024 , 04:17 PM

On October 25, Hindustan Petroleum Corporation Limited (HPCL) announced a consolidated net profit of ₹143 Crore for the second quarter of FY25, a steep 97.5% year-on-year reduction from ₹5,827 Crore the same period last year.

Following this development, HPCL’s counter slipped as much as 8% to an intraday low of ₹375.15.

Net profit fell by 77.4% sequentially from ₹634 Crore in Q1 FY25.

The state-run oil retailer’s total income for the quarter remained basically steady at ₹1.08 Lakh Crore, slightly higher than ₹1.03 Lakh Crore recorded in Q2 FY24.

HPCL’s quarterly sales decreased by 10.5% to ₹99,926 Crore from ₹1.4 Lakh Crore in Q1.

EBITDA increased by 29.3% to ₹2,724.4 Crore from ₹2,108 Crore in the previous quarter, but remained below the targeted ₹4,258 Crore. The EBITDA margin increased to 2.7% from 1.85% quarter on quarter.

Despite mixed results, HPCL’s net profit increased 77% to ₹631 Crore, up from ₹356 Crore, but fell short of the expected ₹2,008 Crore.

At around 2.46 PM, HPCL was trading 6.65% lower at ₹377.85, against the previous close of ₹404.75 on NSE.

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