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HPCL Q3 (FY-2014-15) Results

Mumbai, 13th Feb 2015

Hindustan Petroleum Corporation Limited has registered gross sales of Rs. 1,68,422 crores for the period April – December, 2014. The market sales of petroleum products have increased to 23.76 million tonnes registering a growth of about 3.7% over the period April – December, 2013. The sales of Petrol increased by 9.5%, LPG by 12.2% and that of ATF by 15.1%, over the corresponding period of previous year.

The refineries at Mumbai and Visakh processed 11.73 million tonnes of crude during April - December, 2014 as against 11.17 million tonnes during April - December, 2013. The combined GRM during April – December, 2014 was $ 1.04 per barrel.

On the financial front, the Corporation reported a profit after tax of Rs. 571 crores for the period April – December, 2014 as compared to a loss of Rs. 2,875 crores during the corresponding period last year. For the period October - December, 2014, there was a loss of Rs 325 crores as compared to a loss of Rs. 1,734 crores in the same period last year. During this quarter, there was a significant drop in the international crude and product prices in the international markets (Indian crude basket fell from 94 $/bbl in the beginning of the quarter to 54 $/bbl at the end of the quarter), resulting in inventory losses for the Corporation.

A major milestone during the quarter was the commissioning of DHT unit at Visakh refinery for producing Euro IV specifications Diesel.

During this period, HPCL commissioned a new Depot at Kadapa in Andhra Pradesh with Tankage of 34,000 KL. The new depot having the single spur Tank Wagon siding & 18 bays Road Loading gantry, provides unconstrained Rail/Road facilities making Kadapa depot a good supply Gateway for feeding customers of southern region of country. During the quarter, HPCL has also commissioned additional product tankage of 54000 KL at Ghatkesar in Andhra Pradesh and also commissioned petrol and Diesel tankages at Ajmer to strengthen its supply and distribution infrastructure in various parts of country.

Awa Salawas cross country pipeline project (93 Km long) and modernisation project of Jodhpur depot have achieved mechanical completion. Rewari Kanpur cross country (440Km long) pipeline is progressing on schedule.

HPCL has successfully implemented the Phase 1 of Direct Benefit Transfer for LPG (DBTL) Scheme PAHAL (Pratyaksh Hanstantrit Labh) of Government of India in 54 districts on November 15, 2014. As of December 2014, a total of 197 lakh consumers which is 50.34% of total HPGAS consumers were made to come under the PAHAL Scheme. HPCL was the first Oil Company to achieve this feet and we continue to maintain the leadership position in this regard.

HPCL has also received various awards during the current financial year, some of which are listed below –

  • ‘Indira Gandhi Rajbhasha Puraskar’ for official language implementation, for 7th consecutive year. This award was presented by the President of India to our C&MD. >li>National Award for Excellence in Cost Management-2013 under the category of ‘Public Manufacturing : Organisation (Large)’ from the Institute of Cost Accountants of India (ICAI)
  • OISD award to Vizag-Vijaywada-Secunderabad Pipe line (VVSPL) for Cross Country Pipelines Product Category
  • OISD Award to Operation & Distribution SBU ,South Zone for Best Safety Practices in POL Marketing
  • 'National Energy Conservation Award (First prize)' to Mumbai Refinery in the Refinery Sector for the year 2014.
  • 2nd prize to Mumbai Refinery for “Furnace/boiler Efficiency” by Ministry of Petroleum and Natural Gas (MoP&NG) and Centre for High Technology (CHT)
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