HPCL Q1 profit at Rs. 1,795 Crore, Revenue up by 68%


Hindustan Petroleum Corporation Limited (HPCL) has recorded Profit after Tax (PAT) of ₹ 1,795 crore during April-June 2021. Revenue for the quarter is ₹ 77,586 crore as compared to ₹ 46,108 crore during the corresponding previous period.

During April-June 2021, HPCL achieved total sales volume of 8.83 MMT against 7.62 MMT in previous year for the same period representing a growth of 15.9%. During the quarter, the sales of major products have shown significant growth compared to same period last year inspite of an aggressive second wave of Covid-19 pandemic forcing partial lockdowns across the country. The sale of Petrol recorded growth of 36.6%, Diesel 22.2% and ATF 118.8%. HPCL also achieved its highest ever Q1 LPG Sales in this quarter. The Pipeline thruput for the period April- June 2021 is 4.34 MMT as against 3.54 MMT in previous year for the same period representing a growth of 22.6 %.

During the quarter, HPCL’s Mumbai Refinery undertook a major shutdown of its various units to complete a complex revamp and hook up jobs for its Mumbai Refinery Expansion Project. Inspite of the revamp shutdown, the refineries at Mumbai and Visakh processed 2.51 Million Metric Tonnes (MMT) of crude during April-June, 2021. The combined GRM of HPCL refineries for the quarter works out to US$ 3.31 per barrel.

HPCL‘s R & D Centre received its 100th patent for development of new technologies, catalysts and chemicals in a short period of 5 years. HPCL’s Green R & D Centre at Bengaluru was established in 2016 and is working on development of various innovative & cutting edge technologies & products.

In our efforts to provide clean energy, HPCL achieved the highest ever Ethanol blending of 9.3% during the quarter, which is also the highest in the Industry. HPCL became the first Oil marketing Company to launch Ethanol Blended Petrol in Ladakh region

In order to provide multiple choices to the customers for their energy needs, HPCL has entered into a strategic partnership with M/s TATA Power, India’s largest integrated power company. The agreement envisages providing end-to-end EV charging solution to customers across HPCL’s retail outlets in various cities and major highways.

During the quarter, HPCL commissioned 142 new retail outlets taking the total retail outlet network to 18,776 as of June 2021. CNG facilities were added in 50 retail outlets taking the total number of HPCL outlets with CNG facilities to 724 as of June 2021. During the quarter, HPCL solarized 110 more outlets. With this, 25 % of HPCL’s retail outlet network runs on solar power.

HPCL has recently commissioned a new POL Depot at Hissar (Haryana State) along with 10km dedicated tap-off pipeline from existing Ramanmandi – Bahadurgarh Pipeline (RBPL) at Barwala which will facilitate further optimization of logistic costs.

HPCL’s Mumbai Refinery Expansion Project is nearing completion and Visakh Refinery Modernization Project is in advanced stage of completion. Execution of Residue Upgradation Facilities (RUF) project as part of VRMP project is also progressing well at Visakh refinery.

HPCL’s major ongoing cross country pipeline projects i.e., (i) Vijayawada to Dharmapuri Pipeline Project (ii) Hassan Cherlapally LPG Pipeline Project and (iii) Barmer Palanpur Pipeline Project are running ahead of schedule.

In our constant endeavor to create value for the stakeholders, HPCL had initiated ‘Share Buy Back’ program in November 2020 through market transactions for a maximum value of Rs. 2,500 crore at maximum rate of Rs. 250 per share. The Buy-back program has been successfully completed on its expiry date of 14th May 2021. In its entire Buyback program, HPCL bought back a total of 10.52 Crore Equity Shares utilizing a total of Rs. 2,398 Crore.

During the quarter, HPCL continued its operations without any disruption to ensure availability of LPG, Petrol and Diesel for essential services and the public while ensuring the safety and well-being of its stakeholders and the workforce.

As a responsible corporate citizen, HPCL provided all assistance to facilitate oxygen supplies and strengthen healthcare infrastructure. HPCL also provided support to Covid-19 vaccination Drive in India by providing equipment for storage and transportation of vaccines in the states of Punjab, Maharashtra, Chandigarh and Rajasthan.