HPCL reports highest-ever annual consolidated PAT of ₹16,015 cr in FY24

NEW DELHI: Hindustan Petroleum Corporation Limited (HPCL) has reported stellar financial performance with a record consolidated profit after Tax (PAT) of Rs 16,015 crore during FY24 (Consolidated Net Loss of Rs 6,980 crore during the previous financial year). The standalone PAT during FY24 was also highest ever at Rs 14,694 crore (Standalone Net Loss of Rs 8,974 crore during the previous financial year).

The standalone PAT for the period Jan-Mar 2024 is Rs 2,843 crore registering an increase of 437 per cent over PAT of Rs 529 crore reported during previous quarter OctDec 2023. (PAT during the JanMar 2023 was Rs 3,223 crore).

The Company has reported revenue from operations of Rs 1,21,532 crore for the quarter Jan-Mar 2024 registering an increase of 6.2 per cent over revenue from operations of Rs 1,14,445 crore reported for the corresponding quarter of previous year. For the FY24, the Revenue from operations stood at Rs 4,61,638 crore (Rs 4,66,192 crore during the previous year).

The Average GRMs (Gross of export duty) for the FY24 were $9.08 per barrel ($12.09 per barrel during the previous financial year). Average GRMs (Gross of export duty) for the period Jan-Mar 2024 were $6.95 per barrel ($14.01 per barrel during the corresponding period of previous year).

The reduction in GRMs is in line with the trend of international product cracks.

The Board of Directors has recommended issue of bonus shares in the ratio 1:2 i.e., one new bonus equity share of Rs 10 each for every two existing equity shares of Rs 10 each fully paid up, subject to the approval of members of the company.

The Board of Directors has recommended a Final Dividend of Rs 16.50 per equity share having face value of Rs10 (pre-bonus), which translates into final dividend of Rs 11.00 per equity share having face value of Rs10 (post-bonus) for FY24, subject to approval by the members of the company in the AGM.