HPCL Q1 Results: Profit Falls Nearly 88%, Gross Refining Margin Down 32%
The company's standalone net profit declined 87.5% quarter-on-quarter to Rs 356 crore in the quarter-ended June.
Hindustan Petroleum Corp.'s first-quarter profit fell sequentially, missing analysts' estimates.
The company's standalone net profit declined 87.5% quarter-on-quarter to Rs 356 crore in the quarter-ended June, according to its exchange filing on Monday. This compares with a Rs 1,089.1-crore consensus estimate of analysts tracked by Bloomberg.
Average gross refining margin for the quarter fell 32% to $5.03 per barrel of oil, as compared with $7.4 per barrel in the previous quarter.
HPCL Q1 FY25 Highlights (Standalone, QoQ)
Revenue down 0.6% to Rs 1.13 lakh crore (Bloomberg estimate: Rs 1,09,298.1 crore).
Ebitda down 56.1% to Rs 2,108 crore (Bloomberg estimate: Rs 3,039.3 crore).
Margin at 1.9% versus 4.2% (Bloomberg estimate: 2.8%).
Net profit falls 87.5% to Rs 365 crore (Bloomberg estimate: Rs 1,089.1 crore).
Performance
Crude throughput of the company fell 1.4% sequentially to 5.76 million metric tonne.
Market sales, however, saw a 2.3% quarter-on-quarter uptick to 12.07 million metric tonne.
