HPCL Q1 FY25 Results: Net profit tumbles 87.5% sequentially, misses Street estimates; catch key takeaways here
HPCL Q1 FY25 Results: State-run oil marketing company (OMC) Hindustan Petroleum Corporation Ltd (HPCL) registered a sequential fall of its standalone net profit for the April-June period, much worse than analysts' expectations. Here are key takeaways from HPCL's financial results for the first quarter of the current financial year.
HPCL Q1 FY25 Results: State-run oil marketing company (OMC) Hindustan Petroleum Corporation Ltd (HPCL) on Monday reported a standalone net profit of Rs 355.8 crore for the quarter ended June 30, marking a sequential fall of 87.5 per cent and missing analysts' expectations. Here are key takeaways from HPCL's financial results for the first quarter of the current financial year.
HPCL Q1 FY25 Results | Revenue declines 0.5% vs Q4 FY24
The oil marketing PSU's revenue declined 0.5 per cent on a quarter-on-quarter basis, to Rs 1,20,358.6 crore, according to a regulatory filing.
According to Zee Business research, HPCL's June-quarter net profit was estimated at Rs 1,275 crore and revenue at Rs 1,15,077 crore.
HPCL Q1 FY25 Results | Gross refining margin at $5.03/barrel
HPCL logged a gross refining margin (GRM) - a key measure of profitability for companies engaged in oil refining - at $5.03/barrel for the three-month period.
The OMC said its GRM for the year-ago period had stood at $ 7.44 per barrel.
For the financial year 2023-24, the PSU's GRM had stood at $9.08 per barrel.
HPCL Q1 FY25 Results | What affected GRM?
HPCL said the reduction in GRMs was "primarily due to lower cracks in line with the trend of international product cracks".
HPCL Q1 FY25 Results | What dented profitability?
HPCL said the main reasons for the fall in its PAT are suppressed marketing margins on select petroleum products and reduced refining margins.
HPCL Q1 FY25 Results | OMC spends Rs 2,017 crore to boost to its refining & marketing infra
HPCL said it has invested Rs. 2,017 crore during the June quarter to further strengthen its refining and marketing infrastructure, including its equity investment in joint ventures and subsidiary companies.
HPCL Q1 FY25 Results | Record sales volume
HPCL clocked its highest-ever sales volume in a quarter, at 12.63 MMT (including exports), for the April-June period, up 6.6 per cent over the year-ago period.
HPCL Q1 FY25 Results | 25 bps market share gain
HPCL said it achieved a gain of 0.25 percentage point (25 bps) in market share among oil marketing PSUs during the quarter.