HomeIndustry NewsVisakh Refinery marks highest ever Qtr crude

Visakh Refinery marks highest ever Qtr crude

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To operate at higher capacity of 13.7 MMTPA together with higher yields

HPCL refineries processed their highest ever quarterly crude thru-put of 5.75 Million Metric Tonnes (MMT) during July Sep 2023 (operating at 111.6%) registering a growth of 28% over 4.49 MMT crude processed during the corresponding period of previous year. 

Visakhapatnam Refinery functioning at enhanced capacity of 11 MMTPA yet again processed its highest ever quarterly crude thru-put of 3.23 MMT (116.7% of installed capacity). 

It might be noted that HPCL’s Visakh refinery had recorded its previous highest quarterly thruput in Q1FY24 of 2.96 MMT duly highlighted in Vizag Industrial Scan (Aug 1-15, 2023) edition.

Similarly HPCL’s Mumbai Refinery operating at 105.7% capacity also recorded the highest quarterly crude thru-put of 2.52 MMT during this period.

As per an official press release from HPCL the crude thru-put during Apr-Sep 2023 was also highest ever half-yearly thruput at 11.15 MMT (~ 108.8% capacity) as compared to 9.30 MMT crude processed during Apr-Sep 2022, a growth of 19.9% over historical.

Financial Performance

Hindustan Petroleum Corporation Limited (HPCL) recently reported Revenue from operations of Rs 102,618 crore for the period Jul-Sep 2023 while for the period Apr-Sep 2023, the Revenues were Rs 2,21,662 crore.

The Company reported Highest Ever Half-Yearly Consolidated Profit after Tax (PAT) of Rs 12,592 crore during Apr-Sep 2023 (Consolidated Net Loss of Rs 11,033 crore during the corresponding period of previous year).

Standalone PAT during this period was also highest ever at Rs 11,322 crore as compared to Standalone Net Loss of Rs 12,369 crore during the corresponding period of previous year. 

The standalone PAT for the period Jul-Sep 2023 was Rs 5,118 crore (Net Loss of Rs 2,172 crore during the corresponding period of previous year).

Average GRMs (Gross of export duty) for the period Jul-Sep 2023 were US$ 13.33 per barrel (US$ 8.41 per barrel during the corresponding period of previous year). 

The Average GRMs (Gross of export duty) for the period Apr-Sep 2023 were US$ 10.49 per barrel (US$ 12.62 per barrel during the corresponding period of previous year).

On the marketing front, HPCL achieved Quarterly total sales volume (including exports) of 10.74 MMT during Jul-Sep 2023 (10.39 MMT during corresponding period of previous year) representing a growth of 3.4%. The Half-yearly total sales volume (including exports) was 22.59 MMT with a growth of 7.1% over total sales volume of 21.09 MMT during Apr-Sep 2022.

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