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HPCL net profit up by 70% in Q4 FY 2019

Gasoil News - Published on Wed, 22 May 2019

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State-run refiner Hindustan Petroleum Corp reported a 70 per cent increase in standalone net profit for the quarter ended March at INR 2,970 crore, as compared to INR 1,748 crore reported in the corresponding quarter a year ago. Revenue from operations for the quarter rose 9.77 per cent to INR 72,840 crore from INR 66,351 crore reported in the corresponding quarter previous fiscal. The company’s crude through-put for the March quarter stood at 4.60 million tonne as against 4.63 million tonne reported in the same quarter of 2017-18.

Domestic sales during the quarter rose to 10.03 million tonne as compared to 9.39 million tonne in the corresponding quarter. Similarly, exports increased to 0.08 million tonne in the three months ended March 2019 from 0.06 million tonne reported in the corresponding quarter.

For the full financial year ended March 2019, the company’s consolidated net profit dropped 7.30 per cent to INR 6,691 crore.

The company’s Gross Refinery Margin (GRM) in 2018-2019 decreased to USD 5.01 per barrel, as compared to USD 7.40 per barrel recorded in 2017-18.

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Posted By : Rabi Wangkhem on Wed, 22 May 2019
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