Hindustan Petroleum (HPCL) on Tuesday reported a 26% jump in its consolidated net profit in the March quarter on improved marketing margins. The profit came in at Rs 3,415.44 crore from Rs 2,709.31 crore in the corresponding period of the previous fiscal.
The net profit was up by 34% sequentially. On a cumulative basis, the company’s net profit declined by 58% to Rs 6,735.70 crore in FY25, against Rs 16,014.61 crore in FY24.
Revenue from sales of products registered a marginal decline of 2.5% during the period at Rs 1.18 lakh crore. Total income stood at Rs 1.19 lakh crore against Rs 1.22 lakh crore in Q4FY24.
Consolidated operating margins increased to 3.82% in the quarter under review from 2.79% in the same period the previous fiscal.
The average gross refining margin (GRM) during the year ended March 31 was $5.74 per barrel against $9.08 per barrel during the corresponding previous year.
The board of directors recommended a dividend of `10.50 per equity share having face value of Rs 10, subject to approval by the members of the corporation.
The company achieved its highest-ever refinery throughput of 25.27 million tonne. The Visakh Refinery was able to realise the full volume potential post the expansion and processed over 15 MMT of crude oil. Mumbai Refinery processed almost 10 MMT crude oil at an all-time high, the company said.
HPCL also registered record-high sales volume of 49.82 MMT. This corresponded to a domestic market sales growth of 5.5%. Additionally, the company also recorded its highest-ever pipeline throughput of 26.90 MMT during FY25.
Total capex incurred by the company in FY25 was Rs 14,508 crore, focused on strengthening refining and marketing infrastructure, including investments in subsidiaries and joint ventures. Up to 2030, the company plans to spend almost `90,000 crore, it has earlier told FE. Of this, HPCL expects almost 30-35% of the amount to be spent towards clean energy.