HPCL slumps as Q2 PAT tanks 88% YoY to Rs 631 crore

Hindustan Petroleum Corporation (HPCL) dropped 7.98% to Rs 372.35 after the company's standalone net profit tumbled 87.67% to Rs 631.18 crore in Q2 FY25 as against Rs 5,118.16 crore posted in Q2 FY24.

However, net sales (excluding excise duty) grew by 4.29% year on year (YoY) to Rs 99,413.16 crore in the September 2024 quarter.

Profit before tax (PBT) stood at Rs 835.44 crore in Q2 of FY25, registering de-growth of 87.61% YoY.

Average GRMs (Gross of export duty) for second quarter of FY25 were $3.12 per barrel ($13.33 per barrel during the corresponding period of previous year), the reduction in GRMs is in line with the trend of international benchmark product cracks.

 

During Q2 FY25, the refineries recorded crude thruput of 6.30 MMT (operating close to 107.7% of the installed capacity) registering an increase of 9.6% over the thruput of 5.75 MMT during Q2 FY24.

The company recorded quarterly sales volume of 11.62 MMT (including exports) during the quarter registering a growth of 8.2% as against 10.74 MMT posted in Q2 FY24. The company also achieved market share gain of 0.78% amongst PSU oil marketing companies during the period.

During the quarter, sale of Motor fuels was 6.8 MMT (growth of 4.5% over Q2 FY24) and in case of LPG, the company achieved a sales volume of 2.25 MMT (growth of 5.9% over Q2 FY24).

The Aviation business of the company recorded a growth of 19.6% YoY with sales volume of 250 TMT during Q2 FY25.

As on 30 September 2024, HPCLs Lubricants segment sales volume was 168 TMT during the quarter, (growth of 5.0% over Q2 FY24) and HPCL also recorded pipeline thruput of 6.53 MMT during Q2 FY25 (growth of 6.5% over Q2 FY24).

HPCL is engaged in the business of refining of crude oil and marketing of petroleum products. It operates through two segments: downstream, and exploration and production of hydrocarbons.

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