HPCL Q4 results: Net Profit plunges 25%, Company announced 1:2 bonus issue

HPCL is an Indian Public sector undertaking, oil marketing company which is owned by the Ministry of Petroleum and Natural Gas, Government of India. The company has reported a fall of 25% in net profits in its Q4 FY 2023-24 earnings on lower refining margins. Additionally,

The company has also announced one bonus share for every two shares held.

HPCL Q4 performance

Hindustan Petroleum Corporation Ltd. has reported a total income of Rs.1.22 Lakh crores, up by 6%  from Rs.1.15 Lakh crores in Q4 FY 2022-23. The company reported a net profit of Rs.2,709 crores which has been plunged by 25% from Rs.3608 crores in Q4 FY 2022-23. The firm has earned $6.93 on turning every barrel of crude oil into fuel during this quarter.

EBITDA for this quarter was reported at Rs.5,476.26 crores against Rs.6,487.82 crores in Q4 FY 2022-23, down by 15.6% on a year-on-year basis. The EBITDA Margins stood at around 4.5% as compared to 5.65% in Q4 FY 2022-23.

Announcement of Bonus Issue and Dividend

Hindustan Petroleum Corporation Ltd. with its Q4 FY 2023-24 results has also anno0unced a 1:2 bonus issue which means one bonus share for every two shares held in the PSU company, the record date for this bonus issue has been fixed on June 21, while the credit of shares will happen on or before July 8. Additionally, the company has also announced a final dividend of Rs.16.5 per share.

Conclusion: The plunge in Net profits for the company is governed by lower refining margins, the shares of HPCL closed 4% lower than its previous day’s closing price today at Rs.501.85, The stock has made a 52-week high and low of Rs.594.80 and Rs.239.20 respectively.

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