HPCL Q3 Earnings Triple to Rs 529 Crore

26 Jan 2024 , 09:57 AM

Hindustan Petroleum Corporation Limited (HPCL), a state-owned oil marketing corporation, recorded a profit of Rs 529 crore for the December quarter of fiscal 2023–24, up 207% or more than three times from Rs 172 crore the previous year.

In Q3FY24, HPCL’s standalone total income increased by 2% year over year to Rs 1.18 lakh crore from Rs 1.16 lakh crore in Q2 of previous year. From a segment perspective, downstream petroleum earnings made up the majority of the total income.

In comparison to the same quarter last year, the company’s operating margin increased by 22 basis points (bps) year over year to 0.7% in Q3FY24.

Aside from that, in Q3FY24, domestic sales increased by 3% YoY to 11.3 million metric tonnes (MMT). Conversely, exports increased by 80% YoY to 0.54 MMT in the quarter.

The HPCL stock has increased by nearly 79% over the last year, compared to a 17% increase in the benchmark Sensex.

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