Hindustan Petroleum Corporation Ltd (HPCL), ranked 384 in Fortune Global 500 list and 48 in the list of Platts Top 250 Global Energy Companies in the year 2017, has registered outstanding physical and financial performance during the financial year 2017-18. The Corporation achieved the highest ever profit of Rs 6,357 crores on standalone basis during the financial year 2017-18, as against profit of Rs 6209 crores during financial year 2016-17. Gross Sales during the financial year has increased to Rs 2,43,227 crores as against Rs 2,13,489 crores during the previous financial year. Despite lower Inventory gains in the current financial year 2017-18, the growth in Profit is mainly due to increased refining throughput, higher domestic market sales, better operating efficiencies & improved cracks.
During FY 2017-18, HPCL refineries at Mumbai and Visakh have maximized crude processing and recorded the highest ever combined refining throughput of 18.28 MMT with capacity utilization of 116%, compared to throughput of 17.81 million tonnes achieved during 2016-17. Both the refineries individually recorded their best ever crude throughput performance during the year. The refineries recorded combined distillate yield of 75.9% with highest ever production of Motor Spirit (3.3 MMT), High Speed Diesel (7.3 MMT) & Lube Oil Base Stock (439 TMT). Excellent physical performance enabled HPCL achieve Combined Gross Refining Margin of USD 7.40 per barrel during 2017-18 as compared to USD 6.20 per barrel during 2016-17.
During financial year 2017-18, HPCL achieved the highest ever sales volume of 36.87 million tonnes, including exports of 0.68 million tonnes, with a growth of 4.7% over historical. The sales of Motor Spirit (Petrol) increased by 8.5%, High Speed Diesel by 4.5%, LPG by 8.5%, Aviation turbine fuel by 5.4%, and Lubes by 1.6%, compared to FY 2016-17. During 2017-18, HPCL continued to be India’s largest lube marketer for the fifth consecutive year in highly competitive lubricant business with a total market share of 44.5% in the PSU category.
For the period January-March 2018, HPCL recorded a Profit after Tax (PAT) of Rs 1,748 crores against a PAT of Rs 1,819 crores for the corresponding quarter of previous financial year. The gross sales was Rs.66,351 crores during January-March 2018 as compared to Rs. 58,668 crores for the period January-March, 2017. The relative inventory gains during the period Jan-March 18 were lower as compared to the previous corresponding period of 2016-17. During January-March, 2018, HPCL recorded domestic sales volume of 9.39 MMT with a growth of 7.2% over the corresponding quarter of previous year. The sales of Motor Spirit (Petrol) increased by 12.8%, High Speed Diesel by 9.3% and LPG by 6.7%, over the corresponding period of previous financial year.
