Hindustan Petroleum Q4 Results: Profit Rises Fivefold, Declares Bonus Issue And Dividend
HPCL's Q4 revenue rose 2.6% to Rs 1,14,556.87 crore as against an estimate of Rs 1,09,746.68 crore.
Hindustan Petroleum Corp.'s fourth-quarter profit rose more than five times, meeting analysts' estimates.
The company's net profit rose 437% quarter-on-quarter to Rs 2,842.75 crore in the quarter-ended March, according to its exchange filing on Thursday. This compares with a Rs 2,957.84-crore consensus estimate of analysts tracked by Bloomberg.
Average gross refining margin for FY24 fell nearly 25% to $9.08 per barrel of oil, as compared with $12.09 per barrel in the previous fiscal.
Hindustan Petroleum Q4 FY24 Highlights (Standalone, QoQ)
Revenue up 2.6% to Rs 1,14,556.87 crore (Bloomberg estimate: Rs 1,09,746.68 crore).
Ebitda rose more than 2.2 times to Rs 4,803.75 crore (Bloomberg estimate: Rs 5,133.8 crore).
Margin at 4.19% vs 1.94% (Bloomberg estimate: 4.7%).
Net profit up 5.3 times to Rs 2,842.75 crore (Bloomberg estimate: Rs 2,957.84 crore).
Bonus Issue
The company announced a bonus issue of shares, where the company will issue one share for every two held. This marks the first bonus issue announced by the company since July 2017. The record date set for the same is June 21.
The board also recommended a final dividend of Rs 16.5 per share.
Throughput
Hindustan Petroleum's crude throughput for the quarter stood at 5.84 million metric tonne, marking 9.4% growth as compared with the previous quarter.
The oil marketer's pipeline throughput stood 3% down sequentially at 6.5 million metric tonne.
Sales
Domestic sales saw 4% uptick in the fourth quarter of fiscal 2024 at 11.8 million metric tonne, while export sales marginally fell sequentially to 0.53 million metric tonne, as compared with 0.54 million metric tonne in the previous quarter.
