Hindustan Petroleum Q3 earnings: In the same quarter last year, the state-owned business declared a net profit of Rs 174 crore.
Hindustan Petroleum Corporation Limited (HPCL), a state-owned oil marketing corporation, recorded a profit of Rs 529 crore for the December quarter of fiscal 2023–24, up 207 percent or more than three times from Rs 172 crore the previous year. In Q3FY24, HPCL’s standalone total income increased by 2% year over year to Rs 1.18 lakh crore from Rs 1.16 lakh crore in Q2 of the previous year. From a segment perspective, downstream petroleum earnings made up the majority of the total income. – Hindustan Petroleum Q3 earnings
The operating margin of the company increased by 22 basis points (bps) year-on-year, reaching 0.7 percent in Q3 FY24, compared to 0.4 percent in the corresponding period last year. In addition, domestic sales increased by 3 percent year-on-year to 11.3 million metric tonnes (MMT) in Q3 FY24. Conversely, exports declined by 80 percent year-on-year to 0.54 MMT during the quarter.
Over the last year, HPCL’s stock has experienced a remarkable surge of over 79%, significantly surpassing the modest 17% increase observed in the benchmark Sensex. This impressive performance underscores the strength and growth of HPCL in the market.
