Half Yearly Highlights
Hindustan Petroleum Corporation Limited has recorded Profit After Tax of Rs. 2811 crore during April-September, 2018 vis a vis PAT of Rs 2659 Crs during the corresponding six months period of previous financial year 2017-18. Gross sales increased by 28% to Rs. 1,45,988 crore during April-September, 2018 as compared to Rs. 1,14,044 crore for corresponding period of the previous year.
During April-September 2018, the domestic sales of petroleum products have increased to 18.46 million tonnes with a growth of 4.9% over the first half of previous year. The sales of Motor Spirit (Petrol) increased by 6.4%, HSD by 2.6%, LPG by 7.7%, Aviation Turbine Fuel (ATF) by 17.8%, Lubes by 17.2% and that of Bitumen by 24% over the corresponding period of previous financial year. Pipeline Throughput increased to 10.7 Million Tonnes during April-September, 2018 as compared to 9.7 Million Tonnes for April-September 2017.
The refineries at Mumbai and Visakh processed 9.28 million tonnes of crude during April-September, 2018 as against 9.13 million tonnes during April–September, 2017. The combined GRM for the period April-September 2018 was US$ 5.93 per barrel as compared to US$ 6.75 per barrel in the corresponding previous period. GRM has been impacted mainly on account of increase in crude price resulting in higher fuel and loss component, lower cracks for some of the products like LPG, Bitumen, Lubes & Furnace Oil and exchange rate fluctuations. Procured 3 rakes under liberalized ‘Wagon Investment’ scheme which will result in logistic savings for the Corporation. One more rake is expected in November 2018.
Quarter 2 Highlights
HPCL has registered gross sales of Rs. 73065 crore during July-September, 2018 as compared to Rs. 54,143 crore for the period July-September, 2017. Quarterly Profit after Tax (PAT) for the period July-September, 2018 is Rs 1092 crore against Rs 1,735 crore achieved during the corresponding period of previous financial year. The profit after tax is mainly impacted on account of increase in crude prices and consequent increase in the fuel and loss component besides exchange rate fluctuations.
During July-September 2018, the domestic sales of petroleum products increased to 8.83 million tonnes registering a growth of 4.8% over the corresponding quarter of previous year. The sales of Motor Spirit (Petrol) increased by 5.9%, HSD by 2.4%, LPG by 4.5%, Aviation Turbine Fuel (ATF) by 27.3%, Lubes by 13.1%, and that of bitumen by 66.1% over the corresponding period of previous financial year. The refineries at Mumbai and Visakh processed 4.76 million tonnes of crude during July– September, 2018 as against 4.64 million tonnes during July-September, 2017. The combined GRM during the period July–September 2018 was US$ 4.81 per barrel as compared to US$ 7.61 per barrel in the corresponding previous quarter. GRM has been impacted mainly on account of increase in crude price resulting in higher fuel and loss component and lower cracks for some of the products like LPG, Bitumen, Lubes, Furnace Oil and exchange rate fluctuations. HPCL continues to be largest lube Marketer of India and has expanded the overseas footprints in lubricants business by initiating finished lubricants supplies to Bhutan and commencing operations of newly formed subsidiary, ‘HPCL Middle East FZCO’ in Dubai.
131 new retail outlets were commissioned during Q2 of 2018-19 taking the number of total retail outlets to 15,255 as of September 2018. To enhance retail sales of Diesel through DriveTrack Plus loyalty program, HPCL has entered into strategic tie ups up with various key accounts during Q2 . To expand non-fuel offerings at retail outlets, HPCL has launched Re-mineralized Nano-filtered packaged drinking water, ‘REMINERO’ in collaboration with the Council of Scientific and Industrial Research – Indian Institute of Chemical Technology (CSIR – IICT). HPCL also commissioned its second Electric Vehicle charging station at Hyderabad during Q2.
HPCL commissioned 316 new LPG distributorships during the quarter taking the total LPG distributorships to 5,305 as of September 2018. To enhance Clean cooking fuel penetration in country, HPCL is actively implementing the Pradhan Mantri Ujjwala Yojana (PMUY) and has provided over 1.5 crore new LPG connections under PMUY as of September 2018 since inception of scheme in May 2016.
For excellent performance across all spheres of business, HPCL was recognized with various prestigious awards including ‘Best Navratna’ in ‘Manufacturing, Processing and Generation sector’ category at Dun & Bradstreet PSU Awards 2018 and ‘Oil Marketing Company of the Year’ Award for the third consecutive year by Federation of Indian Petroleum Industry (FIPI). HPCL has also been awarded Vigilance Excellence Award for best institutional practices.