Page 156 - CW E-Magazine (12-11-2024)

Hydrocarbons

FINANCIAL PERFORMANCE
HPCL invested Rs. 3,771-crore in Q2 to boost refi ning and

marketing infrastructure

Hindustan Petroleum Corporation barrel ($13.33 per barrel in Q2FY24 and
Ltd. (HPCL) invested Rs. 3,771-crore $5.03 per barrel in Q1 FY25). The reduc-
to enhance its refi ning and marketing tion in GRMs is in line with the trend of
infrastructure in Q2FY25, the company international benchmark product cracks,
said in a stock exchange fi ling. the company added.

“HPCL invested Rs. 3,771-crore HPCL’s consolidated total expenses
during 2QFY25 to further strengthen its stood at Rs. 1.08 lakh-crore in Q2FY25
refi ning and marketing infrastructure, compared to Rs. 1.21 lakh-crore in
including investment in joint venture Q1 FY25 and Rs. 96,267-crore in Q2
and subsidiary companies. This takes FY24.
the total investment during Apr-Sep
2024 to Rs. 6,588-crore,” the statement fi scal year stood at around Rs. 1.09 lakh- HPCL’s acting CMD Mr. Rajneesh
said. crore compared to Rs. 1.22 lakh-crore Narang, in an investor call, said the
in Q1 FY25 and Rs. 1.03 lakh-crore in OMC recorded a Rs. 2,057-crore under-
Q2 net profi t slips Q2 FY24. recovery on selling domestic LPG at
The company reported almost 98% government rates.
year-on-year (y-o-y) drop in consoli- “The primary reasons for lower PAT
dated net profi t to Rs. 143-crore for (profi t after tax) are suppressed market- The company also booked an inven-
Q2FY25 due to lower refi ning and ing margins on select petroleum products, tory loss of Rs. 1,400-crore as interna-
marketing margins. On a sequential basis, reduced refi ning margins due to lower tional oil prices fell by about $5 per barrel
the net profi t of the oil marketing cracks and falling international crude and during Q2 FY25. This compared to an
company (OMC) was down by 78%. product prices,” HPCL said. inventory gain of Rs. 900-crore on
refi ning business in July-September 2023,
HPCL’s consolidated total income Average Gross Refi ning Margins added Mr. Narang, who also holds the
during the July-September quarter this (GRMs) for Q2FY25 were $3.12 per charge of Director (Finance).
BPCL Q2 net profi t down by 73%

Bharat Petroleum Corporation Ltd. crore in Q1 FY25 and Rs. 1.17 lakh-
(BPCL) on Friday reported a 73% year- crore in Q2 FY24.
on-year (y-o-y) drop in its consolidated
net profi t at Rs. 2,297.23 crore in Q2 Average Gross Refi ning Margin
FY25 on account of lower refi ning and (GRM) for April-September 2024 stood
marketing margins. On a sequential at $6.12 per barrel against $15.42 a barrel
basis, the oil marketing company’s in the corresponding comparative period.
(OMC) net profi t was down by 19%. BPCL’s consolidated total expenses stood
Consolidated EBITDA (earnings before at Rs. 1.16 lakh-crore in Q2FY25, against
interest, taxes, depreciation, and amorti- Rs. 1.25 lakh-crore in Q1FY25 and
sation) tanked by more than 58% Rs. 1.07 lakh-crore in Q2 FY24. The mar-
y-o-y to Rs. 5,795-crore. ket sales for the July-September 2024
increased to 12.39-mt in comparison
The OMC posted a consolidated to 12.19-mt in Q2FY24. Sales grew
total income of Rs. 1.19 lakh-crore in by 1.64% y-o-y. Crude throughput was
Q2FY25, compared to Rs. 1.29 lakh- 10.28-mt against 9.35-mt a year-ago.

156 Chemical Weekly November 5, 2024

Contents Index to Advertisers Index to Products Advertised