HPCL records Highest ever Profit during 2016-17

HPCL records Highest ever Profit during 2016-17

bHindustan Petroleum Corporation Ltd (HPCL), ranked at 367 in Fortune Global 500 list and 48 in the list of Platts Top 250 Global Energy Companies in the year 2016, has registered excellent physical and financial performance during the year 2016-17. The Corporation achieved the highest ever profit of Rs 6209 crore on standalone basis with Gross sales of Rs.213489 crore.

During the financial year 2016-17, HPCL recorded highest ever Profit after Tax of Rs. 6209 crore, significantly exceeding the previous high of Rs 3726 crore (IND AS recast) achieved during 2015-16 and registered a profit growth of 66.6%. The growth in Profit is due to increased refining throughput, higher domestic market sales, better operating efficiencies and inventory gains. Earnings per share improved to Rs 61.12 per share in 2016-17 from Rs 36.68 per share in 2015-16. Gross sales increased during 2016-17 to Rs.2,13,489 crore compared to Rs. 1,97,438 crore during 2015-16.

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