HPCL rose 6.94% to Rs 284.95 after the company's net profit surged 207.5% to Rs 3,017.96 crore in Q4 FY21 as against Rs 981.38 crore in Q4 FY20.
Net sales during the quarter increased 13.2% year-on-year (YoY) to Rs 74,544.62 crore. The corporation reported a pre-tax profit of Rs 4,068.51 crore in Q4 FY21 as against a pre-tax loss of Rs 2,434.26 crore in Q4 FY20.
The combined GRM for HPCL Refineries for the quarter Jan - Mar 2021 is $8.11 per barrel as compared to $(-)1.23 per barrel in the corresponding quarter of the previous year. The refinery throughput for the quarter Jan - Mar 2021 was 4.39 million metric tonnes.
The oil marketing company reported a net profit of Rs 10,663.88 crore in the year ended 31 March 2021 compared with net profit of Rs 3438.34 crore in the year ended 31 March 2020. Net sales declined 13.3% to Rs 2,31,913.34 crore in FY21 over FY20.
The average gross revenue refining margin during the year ended March 31, 202 was $3.86 per barrel as against the $1.02 per barrel during the corresponding period the previous year.
During 2020-21, HPCL refineries at Mumbai and Visakh achieved combined refining thruput of 16.42 Million Metric Tonnes (MMT) with capacity utilization of 104%.
"Effective crude sourcing plans, optimizing day to day crude run rate, efficient logistics management and regulating product procurements from other sources enabled HPCL to achieve more than 100% capacity utilization in refineries inspite of overall demand contraction," the corporation said in a statement.
During the year, HPCL achieved sales volume of 36.59 MMT compared to previous year's sales of 39.64 MMT. HPCL registered market share gain for transport fuels and recorded the least de-growth of 6.6% in domestic sales among the industry, Industry de-growth for 2020-21 being 8.4 % compared to the previous year.
HPCL continued to be India's largest lube marketer and second largest LPG marketer during the year.
During the year 2020-21, HPCL commissioned 2,158 new retail outlets which is the highest in a year taking the number of total retail outlets to 18,634. HPCL also commissioned 112 new LPG distributorships taking number of total LPG distributors to 6,192 as of 31st March, 2021.
For the year 2020-21, HPCL has proposed a final dividend of Rs 22.75 per share. Based on Thursday's closing price of Rs 266.45, the stock offers a dividend yield of 8.54%.
HPCL is engaged in the business of refining of crude oil and marketing of petroleum products. It operates through two segments: downstream, and exploration and production of hydrocarbons. As on 31 December 2020, ONGC held 51.11% in HPCL.
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