In This Article:
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Profit After Tax: INR3,023 crore, up from INR529 crore in Q3 FY24.
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Revenue from Operations: INR1,18,936 crore, compared to INR1,18,443 crore in Q3 FY24.
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Average GRM: $6.01 per barrel, down from $8.49 per barrel in Q3 FY24.
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Crude Throughput: 18.53 million metric tonnes, a 12.4% increase from the previous year.
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Sales Volume: 37.12 million metric tonnes, a growth of 7.6% year-over-year.
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Domestic Sales Volume Growth: 8.2% during the quarter, compared to industry growth of 6.3%.
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Motor Fuels Sales: 7.85 million metric tonnes, a growth of 6.3% over the previous year.
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LPG Sales Volume: 2.31 million metric tonnes, a growth of 4.9%.
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Industrial Products Sales Volume: 1.25 million metric tonnes, a growth of 25% year-over-year.
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Aviation Fuel Sales Volume: 285 million TMT, a growth of 26% over Q3 FY24.
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Lubricant Sales Volume: 178 TMT, a growth of 11.5% over the previous year.
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CapEx Expenditure: INR2,900 crore for Q3, with INR9,500 crore spent from April to December.
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Retail Outlets: 450 new outlets commissioned, totaling 22,953 outlets.
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LPG Distributorships: 6 new distributorships, totaling 6,370.
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EV Charging Facilities: Over 5,000 facilities at retail outlets.
Release Date: January 24, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Hindustan Petroleum Corp Ltd (BOM:500104) reported a significant increase in profit after tax for Q3 FY25, reaching INR3,023 crore compared to INR529 crore in the same quarter of the previous year.
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The company achieved its highest ever crude throughput of 18.53 million metric tonnes, operating at 106% of installed capacity.
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Sales volume growth outpaced industry growth, with a 7.6% increase in sales volume from April to December 2024.
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The company commissioned a 5 million metric ton Chhara LNG regassification plant, enhancing its infrastructure capabilities.
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Hindustan Petroleum Corp Ltd (BOM:500104) has been actively expanding its retail network, commissioning 450 new retail outlets and 6 LPG distributorships during the quarter.
Negative Points
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The average gross refining margin (GRM) decreased to $6.01 per barrel from $8.49 per barrel in the previous year.
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The company faced inventory losses during the quarter, with INR355 crore in refinery and INR460 crore in marketing.
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There was a reported loss of INR700 crore in the integrated operations of HMEL, primarily due to subdued polymer prices.
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The company is still awaiting government approval for the carve-out of its lubricant business, which could delay potential value unlocking.
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The under-recovery on LPG subsidies amounted to INR7,600 crore, with INR3,100 crore in Q3 alone, impacting financial performance.