HPCL revenue hits all-time excessive of Rs 10,664 crore in FY21


The oil refining and advertising and marketing firm had introduced the buyback of 10 crore fairness shares — representing 6.56% fairness stake — at Rs 250 per share in November, 2020.

State-run Hindustan Petroleum Company (HPCL) reported a internet revenue of Rs 10,663.9 crore on a standalone foundation for the fiscal ended March 31, which is 304% increased than the revenue posted a 12 months in the past.

That is the best annual revenue ever reported by the oil refining and advertising and marketing firm.

HPCL reported its annual outcomes a day after Indian Oil Company reported its all-time excessive annual internet revenue of Rs 21,836 crore. HPCL attributed the rise in revenue to “enchancment in refinery margins helped by stock beneficial properties and beneficial change fee variations”.

HPCL’s revenue in Q4FY21 was Rs 3,018 crore as in comparison with Rs 27 crore for a similar quarter final 12 months. Income from gross sales within the quarter elevated 19% y-o-y to Rs 84,905, crore, whereas bills was up yearly by 11% to Rs 81,680 crore in the identical interval.

Whereas income fell 5.6% year-on-year (y-o-y) in FY21 to Rs 2.73 lakh crore, bills — comprising principally of crude oil buy — fell at a sharper fee of 9.7% to Rs 2.59 lakh crore. As retail costs of petroleum merchandise are mapped with worldwide charges, rise of world oil costs throughout FY21 meant that by the point HPCL bought its merchandise after processing crude, retail charges had elevated. HPCL’s stock beneficial properties in FY21 was Rs 5,351 crore towards a listing lack of Rs 1,293 crore in FY20.

Throughout the 12 months, home gross sales of HPCL’s petroleum merchandise fell 6.6% yearly to 35.2 million tonne (MT).

“HPCL registered market share acquire in MS (petrol), HSD (diesel) and LPG and recorded the least de-growth of 6.6% in home gross sales among the many trade,” HPCL chairman Mukesh Kumar Surana mentioned.

Home consumption of petroleum merchandise in FY21 fell 9.1% y-o-y to 194.7 MT throughout the nation.

Below the buyback programme which ended on Could 14, HPCL has purchased again 10.52 crore shares for Rs 2,954 crore, together with tax bills, Surana said.
The oil refining and advertising and marketing firm had introduced the buyback of 10 crore fairness shares — representing 6.56% fairness stake—at Rs 250 per share in November, 2020.

HPCL’s shares have been buying and selling at Rs 266.5 at Thursday’s shut. HPCL has advisable fairness dividend of Rs 22.75 per fairness share of face worth of Rs 10 every for FY21. The dividend will probably be paid inside 30 days after shareholders approve it within the ensuing annual normal assembly to be held in August or September.

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