Standalone profit before tax tumbled 63.2% to Rs 1,160.66 crore in Q3 FY22 as against Rs 3,157.87 crore reported in Q3 FY21.
Average Gross Refining Margin during the nine months ended as on 31 December 2021 stood at $4.50 per bbl as against $2.35 per bbl during the corresponding nine months of the preceding financial year.
The operating profit margin declined to 0.88% in Q3 FY22 from 3.53% in Q3 FY21. Meanwhile, the companys debt to equity ratio stood at 0.82 in Q3 FY22 from 0.79 in Q3 FY21.
Crude throughput rose 6% to 4.24 million metric tonnes (MMT) in Q3 FY22 from 4 MMT in Q3 FY21. It is higher by 67.58% as compared with 2.53 MMT in Q2 FY22.
The company achieved domestic sales of 9.95 MMT during the third quarter, which is lower by 0.79% as compared with same period last year. It is higher by 13.19% as compared with Q2 FY22.
The short /(excess) provision for tax of earlier years for the period ended as on 31 December 2021 included a reversal of provision of Rs 180.18 crore, due to non-participation in Direct Tax Vivad se Vishwas Act, 2020 for few assessment years.
Meanwhile, the share buy-back program, which commenced on 17 November 2020 concluded on 14 May 2021. During the entire buy-back period, a total 10,52,74,280 shares, representing 6.91% of paid up share capital prior to commencement of buy-back having a face value of Rs 105,27,42,800 have been bought back and extinguished.
HPCL is engaged in the business of refining of crude oil and marketing of petroleum products. It operates through two segments: downstream, and exploration and production of hydrocarbons. As on 31 December 2021, ONGC held 54.90% in HPCL.
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