HPCL net profit rises nearly three-fold to Rs 2,355 cr in Q3 FY21

• The total income of HPCL, however, decline by 4 percent year-on-year in the December quarter of FY21

• The combined GRM for the period April-December 2020 period works out to US$ 2.35 per barrel compared to US$ 1.85 per barrel in the corresponding previous period

New Delhi: In Q3 of FY21, state-run Hindustan Petroleum Corporation Limited (HPCL) has recorded a nearly three-fold rise in Profit after Tax (PAT) at Rs 2,355 crore vis-a-vis PAT of Rs 747 crore during the same period of the previous financial year. For the period April-December 2020, HPCL recorded a PAT of Rs 7,646 crore as opposed to Rs 2,610 crore during the corresponding period of the previous year, registering a jump of 192 percent. The total income of HPCL, however, decline by 4 percent in the December quarter of FY21 as it settled at Rs 78,277.49 crore, down from Rs 74,995.22 crore in the corresponding quarter of the previous financial year.

For the nine-month period between April and December, HPCL's total income also went down by nearly 14 percent to settle at Rs 1,87,366.93 crore as opposed to Rs 2,17,276.48 crore in the same period of FY2019-20.

Combined GRM for Q3 FY21 is US$ 1.87 per barrel

The combined GRM for the period April-December 2020 period works out to US$ 2.35 per barrel compared to US$ 1.85 per barrel in the corresponding previous period. The combined GRM for Q3 of FY21 is US$ 1.87 per barrel as compared to US$ 1.79 per barrel in the corresponding period of the previous year.

HPCL sees 2.7% rise in sale of petroleum products in Q3 FY21

During Q3 of FY21, the domestic sales of petroleum products of HPCL increased to 10.03 million metric tonnes (MMT), registering a growth of 2.7 percent over the corresponding quarter of previous year compared to industry growth of 0.30 percent.

The sales of MS (Petrol) increased by 6.4 percent, HSD (Diesel) by 1.2 percent and LPG by 5.9 percent. While the growth rates of HSD & LPG were higher than the industry average, the growth of MS was at par with the industry. Other industrial products like Bitumen and Naphtha also witnessed growth of 18.3 percent and 14.60 percent respectively over the corresponding period of the previous financial year.

ALSO READ: HPCL bags FIPI's Oil Marketing Company of the Year Award

The total domestic sales of petroleum products of HPCL during the period April-December 2020 was 25.4 MMT against 28.5 MMT during the corresponding period of 2019-20.

HPCL achieved combined capacity utilisation of 100% at refineries

HPCL achieved an overall combined capacity utilisation of over 100 percent at its refineries by optimising day-to-day crude run rate and regulating the product procurements from other sources during such challenging times. The refinery throughput for the quarter October-December 2020 was 4 MMT compared to 4.16 MMT during the corresponding period of the last year. HPCL refineries processed 12.03 MMT of crude during April-December 2020 as against 12.64 MMT during the same period last year.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)