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This PSU petroleum company is back on track with a robust net profit of 79% in Q4FY23
As the financial season heats up, Hindustan Petroleum Corporation Ltd reported results and touched a new 52-week high.
Quarterly Performance
In comparison to the same quarter a year prior, the company's net profit for the fourth quarter which ended on March 31, 2023, increased by 78.77% to Rs 3,608.32 crore from Rs 2,018.45 crore on a consolidated basis. In Q4FY23, the company's total revenue climbed by 8.73% to Rs 1,15,151.57 crore from Rs 1,05,900.34 crore from the prior year.
On a consolidated basis, the firm recorded a decline in net profit for the year ended March 31, 2023, from Rs 7,294.23 crore to negative Rs 6,980.23 crore. When compared to the year ended March 31, 2022, the company's total revenue climbed by 24.27%, reaching Rs 4,67,964.52 crore from Rs 376565.91 crore.
Fuel prices already high due to a recovering post-pandemic economy, surged even higher after Russia's invasion of Ukraine on February 2022. Due to the Russia-Ukraine war company had to face heavy losses in Q1FY23. But from last two quarters, it has shown good growth and now it is back on track.
Share Price Movement:
In the last trading session which was on May 12, 2023, it closed at Rs 260.85. Today it opened at Rs 262.25 and currently, it is trading at Rs 258.55 so far 2,45,054 shares were traded over the counter at the BSE.
The BSE group 'A' stock has a market cap of more than Rs 36,500 crore and today it touched a new 52-week high of Rs 267.40 and it has 52-week low of Rs 200.
Company profile:
Hindustan Petroleum Corporation Ltd. (HPCL) is a Maharatna Central Public Sector Enterprises (CPSE). HPCL owns & operates 2 major refineries producing a wide variety of petroleum fuels & specialities, one in Mumbai (West Coast) and the other in Visakhapatnam, (East Coast).
The company is engaged in the business of refining crude oil and marketing petroleum products, Aviation Bulk Fuels and Specialities, International Trade, LPG (HP Gas), Lubes (HP Lubes), Retail (Petrol Pumps), Exploration & Production, Alternate Energy.
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Tanushree Jaiswal
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