HPCL: Standalone Physical Performance
| Particulars | 1803 (3) | 1703 (3) | Var (%) | 1803 (12) | 1703 (12) | Var (%) |
| Crude Throughput | 4.63 | 4.64 | 0 | 18.28 | 17.81 | 3 |
| Domestic sales | 9.39 | 8.76 | 7 | 36.19 | 34.69 | 4 |
| Exports | 0.06 | 0.1 | -40 | 0.68 | 0.54 | |
| pipeline throughput | 5.27 | 4.67 | 13 | 20.14 | 17.91 | 12 |
| Figures in million metric tonne | ||||||
HPCL: Consolidated Results
| Particulars | 1803 (12) | 1803 (12) | Var (%) |
| Net Sales | 218753.30 | 186220.32 | 17 |
| Budgeary support | 756.34 | 1272.57 | -41 |
| Total Revenues | 219509.64 | 187492.89 | 17 |
| OPM (%) | 4.9 | 5.8 | |
| OP | 10712.95 | 10879.66 | -2 |
| Other Income | 1527.88 | 1384.39 | 10 |
| PBDIT | 12240.83 | 12264.05 | 0 |
| Interest (Net) | 617.88 | 609.24 | 1 |
| PBDT | 11622.95 | 11654.81 | 0 |
| Depreciation / Amortization | 2834.40 | 2776.37 | 2 |
| PBT | 8788.55 | 8878.44 | -1 |
| Tax | 2891.86 | 2961.60 | -2 |
| PAT | 5896.69 | 5916.84 | 0 |
| share of profit in JV/ Associate | 1321.59 | 2318.98 | |
| PAT after PPA | 7218.28 | 8235.82 | -12 |
| EPS* (Rs) | 47.4 | 54.0 | |
| * Annualized on current equity of Rs 1523.82 crore. Face Value: Rs 10 Var. (%) exceeding 999 has been truncated to 999 LP: Loss to Profit PL: Profit to Loss EO: Extraordinary items; FBT: Fringe Benefit Tax EPS is calculated after excluding EO and relevant tax Figures in Rs crore Source: Capitaline Corporate Database |
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HPCL reported a profit of Rs 247.55 crore in Q3FY'19 compared to profit of Rs 1949.69 crore in Q3FY'18, down by 87% while net sales rose 25% to Rs 72111.82 crore.
Budgetary support from the government was Rs 286.07 crore in Q3FY'19 compared to Rs 194.53 crore in Q3FY'18, up by 47% while discounts from the upstream companies were nil compared to nil in Q3FY'18.
HPCL sale of petroleum products (including exports) was up 3% to 9.74 million tonne during the quarter while the pipeline throughput rose 1% to 5.22 MMT. The crude throughput of HPCL was up 1% during the quarter ended December 2018 to 4.56 million tonne compared to corresponding previous year period.
Average Gross Refining Margins fell to USD 5.17 per barrel in 9MFY'19 compared to USD 7.51 per barrel in 9MFY'18.
Quarterly Results
HPCL sales rose 25% to Rs 72111.82 crore for the quarter ended December 2018 compared to corresponding previous year period. This included subsidy from the government of Rs 286.07 crore up by 47% on a y-o-y basis. Excluding compensation from the government net sales of the company rose 25% to Rs 71825.75 crore.
OPM of the company stood at 1.3% compared to 5.5% in the corresponding previous year period. As a result operating profits reported was down 70% to Rs 963.2 crore.
Other income fell 12% to Rs 393.68 crore. Interest cost increased by 64% to Rs 147.19 crore. Depreciation rose 9% to Rs 739.31 crore. PBT was down 84% to Rs 470.38 crore. Effective tax rate was higher at 47% compared to 32%. Bottomline of the company fell 87% to Rs 247.55 crore.
Nine months ended results
For nine months ended December 2018 HPCL sales rose 31% to Rs 207259.29 crore compared to corresponding previous year period. This included subsidy from the government of Rs 830.57 crore up by 58% on a y-o-y basis. Excluding compensation from the government sales of the company rose 31% to Rs 206428.72 crore.
OPM of the company stood at 3% compared to 4.9% in the corresponding previous year period. As a result operating profits reported was 19% lower at Rs 6275.8 crore.
Other income fell 26% to Rs 1112.68 crore. Interest cost increased by 38% to Rs 538.76 crore. Depreciation rose 8% to Rs 2184.16 crore. PBT fell 32% to Rs 4665.56 crore. Effective tax rate rose to 34% from 33%. Bottomline of the company reported 34% decrease to Rs 3058.74 crore.
The scrip is currently trading at Rs 229
HPCL: Standalone Results
| Particulars | 1812 (3) | 1712 (3) | Var (%) | 1812 (9) | 1712 (9) | Var (%) | 1803 (12) | 1703 (12) | Var (%) |
| Net Sales | 71825.75 | 57307.31 | 25 | 206428.72 | 157998.05 | 31 | 218576.26 | 185817.97 | 18 |
| Budgeary support | 286.07 | 194.53 | 47 | 830.57 | 525.00 | 58 | 756.34 | 1272.57 | -41 |
| Total Revenues | 72111.82 | 57501.84 | 25 | 207259.29 | 158523.05 | 31 | 219332.60 | 187090.54 | 17 |
| OPM (%) | 1.3 | 5.5 | 3.0 | 4.9 | 4.9 | 5.7 | |||
| OP | 963.20 | 3185.79 | -70 | 6275.80 | 7749.28 | -19 | 10671.93 | 10643.69 | 0 |
| Other Income | 393.68 | 447.04 | -12 | 1112.68 | 1506.81 | -26 | 1849.46 | 1448.08 | 28 |
| PBDIT | 1356.88 | 3632.83 | -63 | 7388.48 | 9256.09 | -20 | 12521.39 | 12091.77 | 4 |
| Interest (Net) | 147.19 | 89.85 | 64 | 538.76 | 389.15 | 38 | 566.71 | 535.65 | 6 |
| PBDT | 1209.69 | 3542.98 | -66 | 6849.72 | 8866.94 | -23 | 11954.68 | 11556.12 | 3 |
| Depreciation / Amortization | 739.31 | 679.92 | 9 | 2184.16 | 2027.38 | 8 | 2752.75 | 2535.28 | 9 |
| PBT | 470.38 | 2863.06 | -84 | 4665.56 | 6839.56 | -32 | 9201.93 | 9020.84 | 2 |
| Tax | 222.83 | 913.37 | -76 | 1606.82 | 2230.38 | -28 | 2844.86 | 2812.04 | 1 |
| PAT | 247.55 | 1949.69 | -87 | 3058.74 | 4609.18 | -34 | 6357.07 | 6208.80 | 2 |
| EPS* (Rs) | 6.5 | 51.2 | 26.8 | 40.3 | 41.7 | 40.7 | |||
| * Annualized on current equity of Rs 1523.82 crore. Face Value: Rs 10 Var. (%) exceeding 999 has been truncated to 999 LP: Loss to Profit PL: Profit to Loss EO: Extraordinary items; FBT: Fringe Benefit Tax EPS is calculated after excluding EO and relevant tax Figures in Rs crore Source: Capitaline Corporate Database |
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HPCL: Physical Performance
| Particulars | 1812 (3) | 1712 (3) | Var (%) | 1812 (9) | 1712 (9) | Var (%) | 1803 (12) | 1703 (12) | Var (%) |
| Crude Throughput | 4.56 | 4.52 | 1 | 13.84 | 13.65 | 1 | 18.28 | 17.81 | 3 |
| Domestic sales | 9.44 | 9.23 | 2 | 27.9 | 26.8 | 4 | 36.19 | 34.69 | 4 |
| Exports | 0.3 | 0.21 | 43 | 0.7 | 0.63 | 11 | 0.68 | 0.54 | |
| pipeline throughput | 5.22 | 5.17 | 1 | 15.92 | 14.87 | 7 | 20.14 | 17.91 | 12 |
| Figures in million metric tonne | |||||||||
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