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Hindustan Petroleum Corporation Limited (HPCL) has announced its unaudited financial results for the third quarter (Q3) of the fiscal year 2024-25, ending December 31, 2024. The company reported a total income of ₹1,19,501.09 crore, a slight increase from ₹1,19,013.33 crore in the same period the previous year. The net profit for Q3 stood at ₹2,543.65 crore, a significant rise compared to ₹712.84 crore in Q3 FY23. This performance reflects HPCL's resilience and strategic initiatives in navigating the dynamic energy sector.
Total Income: ₹1,19,501.09 crore in Q3 FY25, marginally up from ₹1,19,013.33 crore in Q3 FY24.
Net Profit: ₹2,543.65 crore, marking a substantial increase from ₹712.84 crore in the corresponding quarter of the previous fiscal year.
Gross Refining Margin (GRM): The GRM for the April-December period of FY25 was reported at $9.8 per barrel, indicating a decrease from $12.1 per barrel in the same period last year.
Marketing EBITDA: The blended marketing EBITDA turned positive at ₹3.5 per litre for the nine months ending December 31, 2024, compared to negative ₹3.44 per litre in the previous fiscal year.
In Q3 FY25, HPCL's total income experienced a slight uptick, reaching ₹1,19,501.09 crore from ₹1,19,013.33 crore in Q3 FY24. The net profit saw a significant rise to ₹2,543.65 crore, up from ₹712.84 crore in the same quarter of the previous fiscal year. This improvement in profitability is attributed to better operational efficiencies and strategic cost management.
Refining: The Gross Refining Margin (GRM) for the April-December period of FY25 stood at $9.8 per barrel, down from $12.1 per barrel in the corresponding period of the previous year. This decline is primarily due to the easing of crack spreads post the volatility induced by global geopolitical events.
Marketing: HPCL's marketing segment showed a positive turnaround, with a blended marketing EBITDA of ₹3.5 per litre for the nine months ending December 31, 2024, compared to a negative ₹3.44 per litre in FY23. This improvement reflects the company's effective pricing strategies and enhanced distribution network.
Also read: Hindustan Unilever Limited Q3 Results FY24-25 Highlights, ₹2,989 Crore Net Profit (Consolidated)
The oil refining and marketing sector has been experiencing fluctuating margins due to global crude oil price volatility and varying demand patterns. HPCL's performance in Q3 FY25 aligns with industry trends, showcasing resilience amidst challenges. The company's focus on operational efficiency and strategic investments positions it well against sector expectations.
The management expressed satisfaction with the quarterly performance, highlighting the significant increase in net profit and the positive shift in marketing EBITDA. They emphasized the company's commitment to maintaining high refinery utilization rates and optimizing the supply chain to enhance profitability. The management also indicated plans for future investments in refining capacity and marketing infrastructure to sustain growth momentum.
Particulars | 31.12.2024 | 30.09.2024 | 31.12.2023 |
Income | |||
Sale of Products (Including Excise Duty) | ₹1,18,513.22 | ₹1,07,754.89 | ₹1,18,027.14 |
Other Operating Revenue | ₹525.53 | ₹512.70 | ₹457.16 |
Other Income | ₹462.34 | ₹506.34 | ₹529.03 |
Total Income | ₹1,19,501.09 | ₹1,08,773.93 | ₹1,19,013.33 |
Expenses | |||
Cost of materials consumed | ₹35,421.59 | ₹37,101.98 | ₹32,356.17 |
Purchases of stock-in-trade | ₹58,597.43 | ₹59,102.31 | ₹69,555.46 |
Changes in inventories | ₹4,416.63 | (₹4,276.56) | ₹1,812.47 |
Excise Duty | ₹8,430.78 | ₹8,290.47 | ₹7,136.55 |
Employee benefits expense | ₹963.96 | ₹762.09 | ₹852.63 |
Finance Costs | ₹930.70 | ₹944.49 | ₹619.50 |
Depreciation and amortisation expense | ₹1,517.72 | ₹1,529.54 | ₹1,345.44 |
Other expenses | ₹5,249.12 | ₹4,579.40 | ₹4,610.61 |
Total Expenses | ₹1,15,527 .93 | ₹1,08,033 .72 | ₹1,18,288 .83 |
Profit/(Loss) before tax | ₹3,508.66 | ₹348.19 | ₹986.44 |
Tax Expense | |||
Current Tax | ₹705.14 | ₹126.85 | ₹613.42 |
Deferred Tax | ₹266.94 | ₹78 .67 | -₹339 .42 |
Total Tax Expense | ₹965 .01 | -₹205 .52 | -₹273 .60 |
Net profit/(loss) for the period | ₹2 ,543 .65 | ₹142 .67 | ₹712 .84 |
Note: All financial figures are sourced from Hindustan Petroleum's official quarterly earnings report.
The financial data for Hindustan Petroleum Q3 FY24-25 results is sourced from BSE.
Hindustan Petroleum Corporation Ltd. (HPCL) is poised to deliver a robust performance in Q3 FY24-25, with significant improvements across key financial metrics. The company is expected to report a net profit of ₹2,945 crore, marking a substantial 367% increase from ₹631 crore in the previous quarter. Revenue is projected to rise by 10% to ₹1.10 lakh crore, up from ₹1 lakh crore in Q2 FY25.
Revenue Growth: Estimated at ₹1.10 lakh crore, a 10% increase from ₹1 lakh crore in the previous quarter.
Net Profit Surge: Projected net profit of ₹2,945 crore, a 367% rise from ₹631 crore in Q2 FY25.
EBITDA Improvement: Expected to reach ₹5,799 crore, up 113% from ₹2,724 crore in the prior quarter, with EBITDA margins expanding to 5.3% from 2.7%.
Enhanced GRMs: Gross refining margins anticipated at $6.20 per barrel, compared to $3.10 per barrel in Q2 FY25.
The anticipated revenue growth to ₹1.10 lakh crore reflects HPCL's ability to capitalize on improved market conditions and operational efficiencies. The significant increase in net profit underscores the company's enhanced profitability, driven by better refining margins and cost management.
Note: These figures are based on analyst estimates and are subject to change upon the official release of Hindustan Petroleum's financial results.
The financial data estimates for Hindustan Petroleum Q3 FY24-25 results are sourced from CNBC TV.
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