Hindustan Petroleum Corporation (HPCL) lost 1.33% to Rs 307.85 after the PSU oil marketing company's standalone net profit declined by 22.3% to Rs 1,923.5 crore in Q2 FY22 from Rs 2477.45 crore in Q2 FY21.
Revenue from operations surged 60.6% to Rs 82,774.69 crore in Q2 FY22 from Rs 51,511 crore in Q2 FY21. Profit before tax declined 28.2% to Rs 2,361.24 crore in Q2 FY22 from Rs 3,292 crore reported in Q2 FY21.The operating profit margin declined to 2.49% in Q2 FY22 from 5.28% in Q2 FY21. Meanwhile, the company's debt to equity ratio marginally improved to 0.8 in Q2 FY22 from 0.77 in Q2 FY21.
Average gross refining margin (GRM) during the six month ended 30 September 2021 was $2.87 per barrel as against $2.58 per barrel during the corresponding six months of the preceding financial year.
Crude throughput declined by 37.68% to 2.53 million metric tonnes (MMT) in Q2 FY22 from 4.06 MMT in Q2 FY21. It is higher by 0.8% as compared with 2.51 MMT in Q1 FY22.
The company achieved domestic sales of 8.79 MMT during the second quarter, which is higher by 8.5% as compared with same period last year. It is higher by 4% as compared with Q1 FY22.
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 30 September 2021, ONGC held 54.90% in HPCL.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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