Hindustan Petroleum Corporation Q4 Results: Net profit falls 25% YoY; PAT jumps 437% QoQ.

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

With revenue from operations of ₹1,21,532 Crore for Q4FY24, up 6.2% from ₹1,14,445 Crore in Q4FY23, the Board of Directors also recommended a Final Dividend of ₹16.50 per equity share for Hindustan Petroleum Corporation.

5 Key Financial Highlights

Q4FY24 saw Hindustan Petroleum Corporation achieving significant growth. Here are the main highlights from the  Hindustan Petroleum Corporation Q4 Results:

  • Revenue from operations of ₹1,21,532 Crore for Q4FY24, up 6.2% from ₹1,14,445 Crore in Q4FY23

  • Standalone PAT at ₹2,843 Crore for Q4FY24, up 437% from ₹529 Crore in Q3FY24

  • Consolidated Profit for FY24 at ₹16,015 Crore 

  • Standalone PAT for FY24 at ₹14,694 crore

  • Final Dividend of ₹16.50 per equity share having face value of ₹10 recommended by the Board of Directors 

ExploreHindustan Petroleum Corp Share Price

Key Business Updates:

  • The company in FY24 processed the highest ever crude thru-put of 22.33 MMT

  • Hindustan Petroleum Corporation’s Visakh refinery has recorded the highest-ever crude thru-put of 12.69 MMT during the year, with diesel production of 5.7 MMT

  • The company also saw its highest-ever total sales volume of 46.82 MMT (including exports) during FY24 up by 7.8% from FY23

  • Q4FY24 saw the the commissioning of 428 more retail outlets totalling a milestone of 22,022 retail outlets as of 31st March 2024

  • The company signed an MOU with Zomato to set up ‘Rest, Recharge, Refuel, Rejuvenate and Parking Hubs’ for its delivery executives at their Retail Outlets.

  • The company also enrolled 12,724 new HP-Sakhis’ to enhance reach to remote and rural areas

Additional ReadQuarterly Results

Profitability Analysis:

The fourth quarter of FY24 has been quite profitable for Hindustan Petroleum Corporation. The quarter saw its revenue from operations at ₹1,21,532 Crore up 6.2% from ₹1,14,445 Crore in Q4FY23 and a standalone PAT of ₹2,843 Crore up 437% from ₹529 Crore in Q3FY24. Q4 also saw the company commission 428 more retail outlets totalling a milestone of 22,022 retail outlets as of 31st March 2024. During this period, the Hindustan Petroleum Corporation also added 17 new LPG distributorships, taking the total LPG distributorships to 6,349. The company’s lubricants business continues to expand globally with supplies to the Indian Polar Research Centre in Antarctica via South Africa and to the Islamic Republic of Mauritania in northwest Africa. Another feather in its global cap was also added when Hindustan Petroleum Corporation commissioned 5 more retail outlets in Bhutan during the year, taking the total number of outlets in Bhutan to 8.

   Additional ReadSBI Q4 Results

Major Operational Metrics - Standalone Q4 (FY2023-24) Financial Results of Hindustan Petroleum Corporation (in ₹ Crore)

Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

Q4FY23

FY24

FY23

Revenue From Operations

1,21,532

1,18,442

1,14,445

4,61,637.51

4,66,192.35

PBT

3,312.06

768.05

4,391.84

19,153.13

11,914.91

Profit for the period

2,842.75

529.02

3,222.62

14,693.83

8,974.03

Total Comprehensive income for the period

386.96

154.81

8.75

753.33

142.28

Major Operational Metrics - Consolidated Q4 (FY2023-24) Financial Results of Hindustan Petroleum Corporation (in ₹ Crore)

Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

Q4FY23

FY24

FY23

Revenue From Operations

1,21,653.3

1,18,484.3

1,145,73.31

4,61,969

4,66,498.6

PBT

3,124.28

986.44

4,712.87

20,500.27

9,983.92

Profit for the period

2,709.31

712.84

3,608.32

16,014.61

6,980.23

Total Comprehensive income for the period

428.45

143.70

18.96

774.09

313.58

Additional ReadLarsen & Toubro Q4 Results

The Future of Hindustan Petroleum Corporation

As the results for Q4FY24 have shown, the Hindustan Petroleum Corporation has had quite a profitable quarter and financial year. To add to this, the company also has a lot of ongoing projects. Hindustan Petroleum Corporation has invested ₹14,342 crore during the year to help strengthen its Refining & Marketing Infrastructure. The construction of process units of the ongoing 9 MMTPA integrated grassroot refinery cum petrochemical project at Barmer, Rajasthan (HRRL) is in progress as well. Hindustan Petroleum Corporation’s wholly owned subsidiary, HPRGEL, has begun supplying renewable energy from its newly commissioned 5 MW Solar Power Project at Jhansi, UP. 

Additional Read: TVS Motor Company Q4 Results

Conclusion

In both Q4 and FY24 Hindustan Petroleum Corporation has seen a lot of development. With its revenue from operations of ₹1,21,532 Crore for Q4FY24, up 6.2% from ₹1,14,445 Crore in Q4FY23 and the Board of Directors recommending a Final Dividend of ₹16.50 per equity share for Hindustan Petroleum Corporation, the company has also seen growth in the number of its retail stores and its overseas presence. 

About the Company:

Established on July 5 1952 as Standard Vacuum Refining Company of India Limited, the now named Hindustan Petroleum Corporation has come a long way. The company is an Indian public sector undertaking or PSU, in the petroleum and natural gas industry. Hindustan Petroleum Corporation is headquartered in Mumbai and is a subsidiary of ONGC or Oil and Natural Gas Corporation, owned by the Ministry of Petroleum and Natural Gas, Government of India. 

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Share this article: 

Frequently Asked Questions

What was the revenue that Hindustan Petroleum Corporation has been able to make in Q4?

Answer Field

Hindustan Petroleum Corporation in Q4FY24 saw a standalone revenue of ₹1,21,532 Crore, up from ₹1,14,445 Crore in Q4FY23 and a consolidated revenue of ₹1,21,653.3 Crore, up from ₹1,145,73.3 Crore in Q4FY23

What are some of the main business updates for Hindustan Petroleum Corporation?

Answer Field

Where, on the one hand, the financial numbers of Hindustan Petroleum Corporation reveal the profits it had in Q4FY24, the company also saw a lot of business updates in both Q4 and FY24. Here is a list of some of them.

  • The company in FY24 processed the highest ever crude thru-put of 22.33 MMT

  • Hindustan Petroleum Corporation’s Visakh refinery has recorded the highest-ever crude thru-put of 12.69 MMT during the year, with diesel production of 5.7 MMT

  • The company also saw its highest-ever total sales volume of 46.82 MMT (including exports) during FY24 up by 7.8% from FY23

  • Q4FY24 saw the the commissioning of 428 more retail outlets totalling a milestone of 22,022 retail outlets as of 31st March 2024

  • The company signed an MOU with Zomato to set up ‘Rest, Recharge, Refuel, Rejuvenate and Parking Hubs’ for its delivery executives at their Retail Outlets.

  • The company also enrolled 12,724 new HP-Sakhis’ to enhance reach to remote and rural areas

What was the company’s profit after tax (PAT) for Q4FY24 over the previous quarter?

Answer Field

Hindustan Petroleum Corporation saw its standalone PAT for Q4FY24 jump by 437% to ₹2,843 Crore from ₹529 Crore in Q3FY24.

No Result Found

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

7.5 Lacs+ Users

icon-with-text

4.3+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4300 Cr MTF Book

icon-with-text