HPCL’s September Quarter Net Profit Up 7.2% At Rs 1,923 Crore

HPCL’s net profit witnessed a slight rise in the September quarter period of current fiscal

Hindustan Petroleum Corporation Limited (HPCL) reported a 7.2 per cent rise in its current fiscal’s second quarter standalone net profit, which stood at Rs 1,923 crore, against June quarter’s profit of Rs 1,795 crore.

The state-owned refiner’s total income was up 12.94 per cent at Rs 88,049.79 crore in the September quarter of the current fiscal, against Rs 77,957.51 crore of June quarter.

Its earnings before interest, tax, depreciation and amortisation (EBITDA) though were down 5.6 per cent at Rs 3,012.2 crore from Rs 3,191.4 crore in the previous quarter. Its margin was down at 3.6 percent against 4.4 percent, quarter-on-quarter.

Gross refining margin — which is earned by a company by converting one barrel of crude into fuel —stood at an average of $2.87 a barrel between April-September 2021 compared with $2.58 of the year ago period.

HPCL’s sales volumes rose 4 per cent quarter-on-quarter to 8.79 million metric tonnes, supported by higher demand for petroleum products after pandemic-related restrictions were eased.

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