Hpcl Aims At Rs 250 Crore Non-Oil Revenues By 2003

Hindustan Petroleum Corporation (HPCL), the second largest state-owned refining and marketing company, expects Rs 250 crore as revenues from its non-oil business by 2002-03. The revenue may amount to 10 per cent of its profit before interest and tax (PBIT) on sales of petroleum products.

The new marketing director of HPCL, N K Puri said the corporation expects its revenues from non-oil business to jump considering varied services to be offered to its customers. "We are formatting and categorising retail outlets based on the services needed by customers," said Puri.

The retail outlets are being formatted depending upon the area available to set up convenience stores and other services. HPCL has several proposals up its sleeves to enhance its revenues from the non oil business. The corporation is holding talks with several food chain for its urban customers. The food chain outlet at the petrol pumps will be a pick-up joint where customers will be served fast food items such as sandwiches, soft drinks etc.

The company also plans to launch its Fleet card, for fleet owners in the coming few months. Talks are on with financial institutions (FIs) for the same.

In yet another initiative, the company is in discussion with OEMs (original equipment manufacturer) such as Maruti, Bajaj and Hyundai, for providing vehicle care service. As a part of the service, vehicle owners will be offered advise on how to take care of their vehicles. "The exercise is to be launched on a pilot basis by January 2002. Thereafter, we will pick up the best of outlets to launch this service in," said Puri.

Last but not the least, HPCL is talking to two courier companies - Federal Express and Blue Dart, for providing courier drop box facilities at its outlets situated around commercial and residential areas.