HPCL net profit up 52.73 pc in Q3

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SME Times News Bureau | 14 Feb, 2017
State run oil marketing company Hindustan Petroleum Corporation Ltd (HPCL) on Monday reported a 52.73 percent increase in its net profit to Rs 1,590.31 crore in December 31, 2016 as compared to Rs 1,041.25 crore in the corresponding period last year.

Its sales during the quarter were at Rs 55,470.66 crore, up by 15 percent from Rs 48,253.58 crore in the year-ago period.

The company's crude throughput was at 4.66 mmt in the December quarter, up from 4.57 mmt in the same period in the last financial year.

The oil giant reported average gross refining margin during the first nine months of the current fiscal was at $5.57 per bbl, as against $6.35 per bbl, during the corresponding period of the previous year.

The company earned $6.38 on turning every barrel of crude oil into fuel in the quarter ended December as against a gross refining margin of $7.86 per barrel a year ago.

Fuel sales rose 5.6 percent to 9.02 million tonnes with petrol sales increasing 10.7 percent, diesel sales by 5.1 percent and LPG by 10.5 percent.