HPCL profit zooms to ₹3,018 crore in Q4
May 20, 2021
MK Surana, CMD, HPCL - The Hindu×
Gross sales were at ₹84,904.75 crore Hindustan Petroleum Corporation Ltd (HPCL) reported a net profit of ₹3,017.96 crore during the January to March quarter, an increase of over 400 per cent from ₹26.80 crore a year ago.
The company’s gross sales for the fourth quarter were at ₹84,904.75 crore (₹71,268.14 crore).
For the full year, HPCL reported a net profit of ₹10,663.88 crore (₹2,637.26 crore).
Gross sales for FY21 were at ₹2,69,242.86 crore (₹2,86,250.27 crore)
HPCL has proposed a final dividend of ₹22.75 per share for FY21.
“Enhanced profitability was a result of robust operational performance, improvement in refinery margins helped by inventory gains and favourable exchange rate variations,” HPCL Chairman and Managing Director, MK Surana, said at a media conference on Thursday.
HPCL Q4 net profit surges to ₹3,018 crore
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Hindustan Petroleum Corporation Ltd. (HPCL) reported its fourth quarter net profit surged to ₹3,018 crore compared with ₹27 crore in the year-earlier period. Gross sales for January-March ’21 was ₹84,905 crore compared with ₹71,268 crore in the same period last year.
“The enhanced profitability was a result of robust operational performance, improvement in refinery margins helped by inventory gains and favorable exchange rate variations,” HPCL said in a filing. For FY21, HPCL recorded a net profit of ₹10,664 crore compared with ₹2,637 crore for the previous year. Gross sales for FY21 were lower at ₹2,69,243 crore compared with ₹2,86,250 crore in the previous year.
The company, which runs refineries at Mumbai and Visakhapatnam, earned USD 8.11 on turning every barrel of crude oil into fuel in January-March period. This is compared with a negative gross refining margin (GRM) of USD 1.23 per barrel
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