Hindustan Petroleum Corporation Limited (HPCL), a prominent public sector oil marketing company, announced a robust profit of Rs 529 crore for the October-December quarter. This marks a remarkable three-fold increase compared to the Rs 172 crore reported during the same period in the previous year.
While the Q3 net profit showcases significant growth, it is essential to note that it stands nearly 90 percent lower than the impressive figure of Rs 5,118 crore reported by the oil major for the preceding July-September quarter of the current financial year.
In terms of standalone total income, HPCL demonstrated a commendable 2 percent year-on-year increase in Q3, reaching Rs 1.18 lakh crore compared to Rs 1.16 lakh crore in the corresponding quarter last year.
The domestic sales sector experienced a positive trajectory, witnessing a 3 percent year-on-year growth in the third quarter of 2023-24, totaling 11.3 million metric tonnes (MMT).
Furthermore, HPCL's operational efficiency was highlighted by a noteworthy expansion in operating margin. The margin increased by 0.22 percent year-on-year, reaching 0.7 percent during the third quarter.
These financial indicators underscore HPCL's resilience and adaptability in navigating the dynamic landscape of the oil and gas industry. As the company continues to demonstrate strong performance, stakeholders can anticipate ongoing contributions to the energy sector's growth and stability.
(With Agency Inputs)
ALSO READ | Byju's-Owned Aakash Records 82% Profit Surge, Surpasses Rs 1,400 Crore Revenue in FY22
ALSO READ | HDFC Bank Takes the Lead in Market Capitalization Gains Among Major Indian Banks in Q4
