HPCL Q3 Results: Net Profit Down 88% On Inventory Write-Back
The net profit of the state-run refiner fell 87.8% quarter-on-quarter in the third quarter ended December 2023 to Rs 712.8 crore.
Hindustan Petroleum Corp Ltd.'s net profit for the third quarter of fiscal 2024 fell sequentially on account of inventory write-back.
The net profit of the state-run refiner fell 87.8% quarter-on-quarter in the third quarter ended December 2023 to Rs 712.8 crore after the company took a write back of Rs 7,796.5 crore on crude oil inventory in the base quarter.
HPCL Q3FY24 Highlights (Consolidated, QoQ)
Revenue rose 15.4% to Rs 1.11 lakh crore vs Rs 95,752 crore sequentially.
Operating profit or EBITDA was down 73.8% to Rs 2,160.4 crore vs Rs 8,240 crore sequentially.
Ebitda margin was down 666 basis points at 1.94% vs 8.6% sequentially.
The board has approved an interim dividend of Rs15 per share.
HPCL shares were trading 6% down on the BSE compared with 0.91% fall in the benchmark Sensex.
