Hindustan Petroleum Corporation Ltd. (HPCL) reported a consolidated net loss for the first quarter of FY27 as volatility in crude oil prices weighed on earnings, although the loss came in lower than analysts had anticipated. HPCL reported a consolidated net loss of Rs 11,526 crore for the June quarter, compared with a net profit of Rs 4,902 crore in the previous quarter. The loss was lower than the Bloomberg consensus estimate of Rs 12,296 crore.
Revenue from operations rose 17.4% quarter-on-quarter to Rs 1.40 lakh crore from Rs 1.15 lakh crore, exceeding the Bloomberg estimate of Rs 1.29 lakh crore.
The company reported an Ebitda loss of Rs 16,141 crore during the quarter, against an Ebitda profit of Rs 8,979 crore in the previous quarter. The operating loss was, however, narrower than the Bloomberg estimate of Rs 12,672 crore.
HPCL Q1 Result Highlights (QoQ)
- Net Loss of Rs 11,526 crore versus Profit of Rs 4,902 crore.
- Revenue up 17.4% at Rs 1.4 lakh crore versus Rs 1.15 lakh crore.
- Ebitda loss of Rs 16,141 crore versus Profit of Rs 8,979 crore.
- Avg GRM up at $23.8/bbl versus $3.08/bbl (YoY)
HPCL's average gross refining margin (GRM) stood at $23.8 per barrel during the quarter, a significant improvement from $3.08 per barrel in the corresponding period last year.
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Refining Performance
HPCL's refineries processed 6.52 million metric tonnes (MMT) of crude during the quarter, operating at 107% of installed capacity. The Visakh Refinery processed 3.97 MMT of crude, operating at 106% capacity, while the Mumbai Refinery recorded crude throughput of 2.55 MMT, operating at 108% capacity.
During the quarter, the company's refineries also processed two new grades of crude oil.
Sales Performance
Total sales, including exports, stood at 13.12 MMT during the quarter, up 0.6% year-on-year. Domestic sales were largely flat, declining 0.1% year-on-year.
Combined petrol (MS) and diesel (HSD) sales increased 8.1% year-on-year to 8.8 MMT, while LPG sales stood at 1,729 thousand metric tonnes (TMT).
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