Hindustan Petroleum Corporation (HINDPETRO) Q3 24/25 earnings summary

Executive summary

• Q3 FY25 saw exceptional profit after tax of INR 3,989.99 crores, up sharply year-over-year, driven by operational efficiencies and improved margins in refinery and marketing divisions.

• Over 100 years of operations with a diversified portfolio in refining, marketing, natural gas, renewables, and R&D.

• Holds Maharatna status, operates India's largest lube refinery, and has the second-largest product pipeline and retail network.

• Strong presence in the Indian oil & gas sector with a 20.5% domestic market share in petroleum products as of Dec 2024.

• Standalone and consolidated unaudited financial results for the quarter and nine months ended December 31, 2024, were reviewed and approved by the Board on January 23, 2025.

Financial highlights

• Standalone revenue from operations for Q3 FY25 was INR 1,18,936 crores, nearly flat year-over-year; total income was INR 1,19,415.27 crore.

• Standalone net profit for Q3 FY25 was INR 3,989.99 crore, up from INR 768.05 crore in Q3 FY24; consolidated net profit was INR 3,341.27 crore.

• Average GRM for Q3 was $6.01/bbl, down from $8.49/bbl year-over-year; for April–December 2024, GRM was $4.73/bbl.

• Highest-ever crude throughput at 18.53 MMT for April–December, up 12.4% year-over-year.

• EPS (standalone) for Q3 FY25 was ₹14.20, and for nine months was ₹55.70.

Outlook and guidance

• Refining capacity to increase from 34.5 MMTPA in 2024-25 to 45.3 MMTPA by 2027-28.

• Major investments in green energy, renewables, and net zero initiatives, targeting net zero Scope 1 & 2 emissions by 2040.

• Projected doubling of EBITDA levels by FY28, with focus on operational excellence and digital transformation.

• Visakh refinery now operating at full 15 MMT capacity; residue upgradation unit to add $2–$3/bbl to GRM.

• Barmer refinery mechanical completion targeted by March 2025, with full benefits expected in FY26–27.