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HPCL outstanding financial results for the fiscal year 2023-24.

May 9th, 2024 10:12 pm | By | Category: SPECIAL NEWS COVERAGE

Dr. Pushp Kumar Joshi
CMD – HPCL


(THE NEWSMAN OF INDIA.COM)
Hindustan Petroleum Corporation Ltd Board recommends Bonus Equity Issue and Final Dividend, Highest ever Annual Consolidated Profit of ₹ 16,015 Crores, 4QFY24 PAT jumps by 437% over 3QFY24 PAT as below :

• Exceptional Financial Performance: HPCL has achieved an unprecedented Consolidated Profit after Tax (PAT) of ₹16,015 crore during FY 2023-24. Similarly, the Standalone PAT for FY 2023-24 reached an all-time high of ₹14,694 crore.

• Quarterly PAT Surge: In the Jan-Mar 2024 quarter, HPCL witnessed an extraordinary surge in Standalone PAT, reaching ₹2,843 crore, reflecting a phenomenal 437% increase over the previous quarter.

• Bonus Equity Issue and Final Dividend: The Board of Directors has recommended a bonus issue in the ratio of 1:2, subject to approval by the company’s members. Additionally, a Final Dividend of ₹16.50 per equity share (pre-bonus) has been proposed for FY 2023-24, translating to ₹11.00 per equity share (post-bonus), in addition to the interim dividend. Total Dividend for FY 23-24 : ₹31.50 per equity share (pre-bonus) which translates to 315% per share of face-value ₹10.

• Revenue Growth: HPCL reported robust Revenue from operations of ₹1,21,532 crore for the quarter Jan-Mar 2024, representing a substantial 6.2% increase compared to the corresponding quarter of the previous year.

• Operational Achievements: HPCL has achieved significant milestones in its operational performance. Our refineries processed the highest-ever crude throughput, achieving 103.3% of installed capacity. On the marketing front, we achieved the highest-ever total sales volume and market share gains across various products.

• Infrastructure Investments and New Ventures: Significant investments were made in infrastructure projects, including refinery modernization and grassroot refinery cum petrochemical projects. We expanded our presence in the CGD business, won bids for new geographical areas, and continued global expansion in the lubricants business.

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