Q3 Net Profit up by202% from Rs. 248 Crore to
Rs. 747 Crore
October-December 2019 Highlights
Hindustan Petroleum Corporation Limited has recorded Profit after Tax (PAT) of Rs 747crore for the
period October-December, 2019 as against Rs 248 crore during the corresponding
period of previous financial year. Gross sales during October-December, 2019was
Rs.74,288 croreas compared to Rs. 76,884 crore for the same period of previous
financial year.
During October-December 2019, the domestic
sales of petroleum products increased to 9.8 million metric tonnes registering
a growth of 3.2% over the corresponding quarter of previous year. The sales of
Motor Spirit (Petrol) increased by 6.6%, LPG by 18.2% and Lubes by 6.4% over
the corresponding period of previous financial year.
HPCL refineries at Mumbai and Visakh processed
4.16million metric tonnes of crude during October – December 2019 as against
4.56 million metric tonnes during October - December 2018. The lower thruput
was mainly due to planned shutdowns of some of the units at Visakh refinery in
the thirdquarter for BS VI upgradation and revamp. The combined GRM during the
period October–December 2019 wasUSD1.79per barrel as compared to USD3.72 per
barrel in the corresponding previous period. Lower GRM is primarily due to
lower cracks of FO & LPG and planned shutdown of secondary units at Visakh
Refinery.
April-December
2019 Highlights
HPCL has recorded Profit after
Tax of Rs. 2,610crore during April-December 2019 as compared to Rs. 3,059 crore
for corresponding period of previous year. Gross sales for April – December2019
are Rs.2,14,982 Crore as compared to Rs. 2,22,872 Crore for corresponding
period of the previous year.
During April-December,
2019, the domestic sales of petroleum products have increased to 28.5 million
metric tonnes with a growth of 2.1% over the corresponding period of 2018-19.
The sales of LPG increased by 9.6%, Motor Spirit (Petrol) by 7.1% and that of
Bitumen by 7.8% over the corresponding period of 2018-19. Pipeline thruput for
the period April- December 2019 is 15.5 million metric tonnes.
The refineries at Mumbai
and Visakh processed 12.64 million metric tonnes of crude during April -December
2019. The combined GRM for the period April-December 2019 was USD1.85 per barrel as compared to USD5.17 per barrel in the corresponding previous period. Lower GRM was mainly
on account of lower cracks of HSD, FO & LPG and reduced thruput at refineries
due to planned shutdown for BS VI upgrades and expansions.
Both the refineries of HPCL have been upgraded
to make BS VI MS and HSD to meet BS VI implementation schedule. To meet the
IMO-2020 norms, Visakh Refinery started producing IMO compliant VLSFO ahead of
the deadline of 1stJanuary 2020. With this, HPCL is able to offer
cleaner and sustainable solutions to meet the energy needs of the nation and respond
to the tightening regulation on emissions.
HPCL has been aggressively pursuing its
planned capex to realise the potential benefits as early as possible. HPCL has
already completed 97% of its planned capex for FY 2019-20 in 9 months itself.
HPCL’s ‘MDPL expansion project and Palanpur Vadodara Pipeline extension
project’ costing Rs 1879 Crore is completed 6 months ahead of schedule and at
90% of the approved cost. It will enhance capacity of MDPL from 5 MMTPA to 8
MMTPA with extension from Palanpur on MDPL line upto Vadodara. The 168.45 KM
long Uran-Chakan LPG pipeline has also been put in to service during the
quarter which will reduce LPG tanker movement on Mumbai Pune route
substantially. The increased pipeline networks & capacities shall lead to
enhanced logistic efficiencies besides the associated environmental benefits.
Towards leveraging of technology in enhancing the
operational efficiencies and customer value, 29 POL terminals of HPCL have been
converted to ‘Smart Terminals’ as of December 2019. The operations of the
Terminals have been fully automated with seamless integration of all activities
without any manual interventions.
The supply infrastructure of HPCL has been
further expanded with completion of various projects during the quarter. LPG
supply infrastructure was expanded with commissioning new 120 TMT capacity LPG
bottling plantat Sugauli in the state of Bihar. In addition, bottling
capacities of LPG plants at Hoshiarpur (Punjab) and Kondapalli (Andhra Pradesh)
plants were enhanced by 60 TMT per annum.The LPG handling capacities at Yediyur
LPG plant has been enhanced with construction of additional3x700 Metric Ton
Mounded LPG storage Vessels(MSV) and 8 Bay TT Gantry. HPCL has expanded its
footprint in the northern part of India by commissioning of new road fed POL depot
in the union territory of Leh. The existing POL depot at Meerut in Uttar
Pradesh has been revamped with additional tankage, tank truck loading gantry
and associated facilities. The enhanced infrastructure capabilities shall help
in meeting the growing petroleum products demand with greater market reach and improved
efficiency.
During the quarter, a total of 278 new retail
outlets were commissioned taking the total retail outlet network to 16,017 as
of December 2019. To establish the presence in overseas markets, HPCL have tie
up with State Trading Corporation of Bhutan for setting up retail outlets in
Bhutan.
During the quarter, HPCL commissioned 60 new
LPG distributorships, taking the total LPG distributorships to 6,040 as of December
2019.
The refinery upgradation and expansion
projects of both refineries i.e. Visakh Refinery Modernization Project (VRMP)
and Mumbai Refinery Expansion Project (MREP) are in advance stages. At Visakh
refinery, revamp of secondary units for BS VI upgradation as well as to cater
to increased capacity requirements after commissioning of new units under VRMP has
been completed.
The Rajasthan refinery and petrochemical
project of HPCL Rajasthan Refinery Limited (HRRL) is progressing well.
Licensor’s engineering work is completed,major EPC contracts have been floated
and site construction activities have commenced.
HPCL’s other major ongoing pipeline projects like
Extension of Visakh Vijayawada Secunderabad pipeline (VVSPL) fromVijayawada to
Dharmapuriand Hassan Cherlapalli LPG pipelineare on track.
For excellent performance across all spheres
of business, HPCL was recognized with various prestigious awards including ‘Company
of the year award’ for excellence in human resource management by FIPI,‘Golden
Peacock’ award for excellence in corporate governance by Institute of Directors
(IOD), ‘Information System Excellence Award’ for best security practices in
energy sector by Data Security Council of India.
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