State-run Hindustan Petroleum Corporation (HPCL) on Thursday reported a multi-fold jump in its consolidated net profit at around ₹2,544 crore during Q3 FY25 aided by better marketing margins.

The oil marketing company’s consolidated total income was largely flat on an annual basis at around ₹1.2 lakh crore. Sequentially, income was up 10 per cent.

HPCL’s consolidated total expenses were also largely flat on an annual basis at ₹1.16 lakh crore, up 7 per cent sequentially.

The company attributed the stellar results to better physical performance and operational efficiencies in both refining and marketing divisions, coupled with improved margins.

Average Gross Refining Margin (GRM) for April-December 2024 is $4.73 per barrel against $9.84 in the year-ago period. Average GRM in Q3 FY25 was $6.01 per barrel ($8.49).

Operational metrics

During Q3, BPCL refineries recorded crude throughput of 6.47 million tonnes (mt), operating at 111 per cent of the installed capacity.

The company also recorded its highest-ever quarterly sales volume of 12.87 mt (including exports) during Q3 (11.9 mt) registering a growth of 8.2 per cent.

The OMC also recorded its highest-ever pipeline throughput of 6.93 mt.

In Q3, sale of Motor Fuels was 7.85 mt, growth of 6.3 per cent year on year. In LPG, it achieved a sales volume of 2.31 mt, up 4.9 per cent. Aviation business recorded a growth of 26 per cent with sales volume of 285,000 tonnes during the December quarter. The lubricant segment’s sales volume was 178,000 tonnes, growing 11.5 per cent.