HPCL Q1 Results: Reports Profit On Improved Operational Metrics
Hindustan Petroleum Corp. reported a net profit in the first quarter of fiscal 2024 on improved operational metrics.
The state-run oil refiner reported a net profit of Rs 6,203.9 crore against a loss of Rs 10,196.94 crore in the year-ago period, according to an exchange filing on Wednesday.
HPCL Q1 FY24 Highlights (Standalone, YoY)
Revenue down 2.2% to Rs 1,11,960.59 crore vs Rs 1,14,454.71 crore
Ebitda of Rs 9,654.78 crore vs ebitda loss of Rs 12,494.56 crore
Margin at 8.6%
HPCL said its average gross refining margin for the April-June quarter fell by almost half to $7.44 per barrel as against $16.69 per barrel a year ago. "This is before factoring in the impact of the special additional excise duty and road and infrastructure cess levied from July last year on the export of select petroleum products."
The other Income included a foreign exchange gain of Rs 131.5 crore against a loss of Rs 945.4 crore a year ago.
HPCL had a cumulative negative buffer of Rs 989.7 crore on the sale of retail liquefied petroleum gas cylinders as its market-determined price was higher as compared with the price at which they were sold. It was recognised as a part of income upon its recovery during April–June.
Shares of HPCL closed 3.07% lower at Rs 276.35 on the BSE, as compared with a 1.02% drop in the benchmark Sensex.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
