Press Release


HPCL H1 results – Profit up by 41%

Mumbai, 9th November 2015

Hindustan Petroleum Corporation Limited has registered gross sales of Rs.1,01,114 crores for the period April - September, 2015. The domestic sales of petroleum products have increased to 16.27 million tonnes registering a growth of 6.9% over the first half of previous year, as against the Industry (PSU) growth of 4.4%. The sales of Motor Spirit (Petrol) increased by 14.6%, High Speed Diesel by 2.7%, LPG by 7.7%, Aviation turbine fuel by 19.8% and that of Lubes by 29.6% which contributed to the impressive overall growth.

The retail segment maintained growth leadership both in MS and HSD (PSU) and registered a market share gain of 0.5% on Total Motor Fuels basis. The Industrial & consumer segment recorded highest ever growth of 19.9% improving the market share by 0.8% among PSUs. In the highly competitive Lube segment, we continued to be the No. 1 Lube marketer and further consolidated our position by increasing our market share by 4.6%. The Aviation segment grew remarkably at a higher growth rate of 19.8% as against Industry (PSU) growth of 2.2%. Our pipelines achieved highest ever half year throughput of 8.85 million tonnes surpassing the previous highest of 7.95 million tonnes achieved during second half of 2013-14.

The refineries at Mumbai and Visakh processed 7.96 million tonnes of crude during April - September, 2015 as against 7.77 million tonnes during April - September, 2014.

On the financial front, the combined GRM during the period April – September 2015 increased to $ 5.45 per barrel as compared to $ 2.09 per barrel in the corresponding previous period.

The profit after tax for the period April-September, 2015 was Rs.1268 crores as against a profit of Rs. 896 crores for April-September, 2014, increase of about 41%. The increase in profit is mainly on account of improved refining margins, increased refining thruput and higher domestic market sales.

During the quarter July – September 2015, the declining Crude and Product prices severely impacted our financials on account of inventory losses resulting in the Corporation reporting a loss of Rs.320 crores.

HPCL Mumbai Refinery expansion project has been approved to augment the capacity from 6.5 Million tonnes to 9.5 Million tonnes at an estimated capital cost of Rs.4,200 crores. This project shall enable HPCL to meet the BS IV/V fuel specification as per the Auto Fuel Policy of Government of India.

The Crude Cavern at Visakhapatnam under joint ownership with ISPRL has been commissioned which has led to augmentation of our crude storage capacity by 330 TMT at a capital cost of about Rs. 280 crores.

We are also in the process of commissioning the 443 Km long Rewari Kanpur Product Pipeline with a capacity of 7.98 MMTPA at a capital cost of about Rs.1400 crores. The commissioning of this pipeline will give us a strategic advantage in feeding the northern and central states which are witnessing a strong demand growth for petroleum products. The other two new LPG pipelines that are currently under implementation i.e. Uran – Chakan/ Shikrapur and Mangalore - Hassan – Mysore – Solur are progressing well and are expected to complete as per schedules in 2016.

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