New Delhi. Hindustan Petroleum Corporation Limited (HPCL) recently released its financial and operational updates for the period of April to September 2023, showcasing robust performance and remarkable achievements. During this period, the company reported revenues from operations of ₹102,618 crore for the July to September 2023 period, with total revenues of ₹2,21,662 crore for the entire April to September 2023 period.

The standout achievement was the highest-ever half-yearly consolidated profit after tax (PAT) of ₹12,592 crore during April to September 2023, marking a significant turnaround from a consolidated net loss of ₹11,033 crore during the same period the previous year. Moreover, the standalone PAT for the same half-yearly period also reached a record high at ₹11,322 crore, compared to a standalone net loss of ₹12,369 crore in the corresponding period of the previous year.

HPCL's standalone PAT for July to September 2023 stood at ₹5,118 crore, signifying a remarkable recovery from a net loss of ₹2,172 crore during the same period in the previous year.

On the operational front, HPCL's refineries achieved a significant milestone by processing a record high of 5.75 million metric tonnes (MMT) of crude oil during July to September 2023, representing a remarkable growth of 28% compared to the previous year's corresponding period. The Visakhapatnam Refinery operated at an enhanced capacity of 11 MMTPA and processed a record quarterly crude throughput of 3.23 MMT, while the Mumbai Refinery, operating at 105.7% capacity, also achieved its highest-ever quarterly crude throughput of 2.52 MMT.

The half-yearly crude throughput for April to September 2023 reached 11.15 MMT, a 19.9% growth compared to the same period in 2022. HPCL excelled in marketing, achieving a 7.1% growth in total sales volume (including exports) for the half-yearly period, reaching 22.59 MMT, compared to 21.09 MMT during April to September 2022.

Furthermore, the company maintained its market share in transport fuels despite the re-entry of private players in the domestic segment. HPCL achieved record half-yearly LPG sales of 4.04 MMT during April to September 2023, showcasing a remarkable growth of 4.4% in LPG sales. The company also expanded its presence in the aviation segment, achieving a growth of 27.4% during the same period.

HPCL reached its highest-ever half-yearly pipeline throughput of 12.62 MMT during April to September 2023, marking an 11.9% growth compared to the previous year's corresponding period.

In terms of projects and investments, HPCL invested ₹7,196 crore during April to September 2023 to strengthen its refining and marketing infrastructure. The Visakhapatnam Refinery Modernization Project achieved significant milestones with the commissioning of various units, including a new Hydrogen Generation Unit and a Sulphur Recovery Unit.

The company also expanded its retail outlets, commissioned new LPG distributorships, and ventured into various new businesses and initiatives to enhance its service offerings and customer experience.

Furthermore, HPCL has been actively engaged in the transition to a low carbon economy, with efforts focused on ethanol blending, CNG facilities, electric vehicle (EV) charging, and solar power installations at its retail outlets. This has led to significant reductions in carbon emissions and positions HPCL as a leader in sustainable energy practices.

In recognition of its innovative and forward-thinking initiatives, HPCL received several awards, including the Renewable Energy India Award, Best Indigenous Developed Technology Award, Best Innovation in R&D Institute Award, and CII DX Awards for its outstanding programs and initiatives. /BI