Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Hindustan Petroleum net trebles on inventory gains.


Date: 06-02-2020
Subject: Hindustan Petroleum net trebles on inventory gains
Hindustan Petroleum Corp Ltd (HPCL) on February 5 reported trebling of net profit in December quarter as inventory gains made up for lower refinery margins. Net profit in October-December at Rs 747 crore was higher than net profit of Rs 248 crore in the same period a year back, HPCL Chairman and Managing Director Mukesk K Surana told reporters here.

"In Q3 of the last fiscal we had an inventory loss of Rs 3,465 crore. As compared, we made an inventory gain of Rs 343 crore," he said, adding the inventory gains were partly offset by lower exchange gains.

HPCL had a foreign exchange gain of Rs 82 crore in the December quarter as compared to a forex gain of Rs 557 crore a year back, he said.

A company records inventory gain when it buys raw material (crude oil) at a particular price but by the time it is able to process and convert it into fuel, international oil prices have gone up. Since fuel prices are benchmarked to international rates, inventory gains are booked. Inventory losses are booked when the reverse happens.

The company earned USD 1.79 on turning every barrel of crude oil into fuel in Q3 as compared to a gross refining margin of USD 3.72 per barrel a year back.

"The lower GRM is primarily due to lower cracks of fuel oil and LPG and planned shutdown of secondary units at Visakh refinery," he said.

Sales was also lower at Rs 74,288 crore in October-December as against turnover of Rs 76,884 crore.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 11-08-2020
Notification No. 32/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by DGRI-reg.

Date: 10-08-2020
Notification No. 24 /2015-2020
Amendment in Policy condition of Sl. no. 55 & 57, Chapter 10 Schedule 2, ITC (HS) Export Policy, 2018-reg

Date: 10-08-2020
Notification No. 25 /2015-2020
Issue of Advance Authorisations where export item is Gold medallions and coins or Gold Jewellery/Articles manufactured by fully mechanised process

Date: 10-08-2020
Notification No. 35/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by DGRI-reg.

Date: 10-08-2020
Notification No. 22/2020-CUSTOMS (ADD)
Seeks to impose provisional anti-dumping duty on imports of Black Toner in powder form originating in or exported from China PR, Malaysia and Chinese Taipei for a period of six months.

Date: 07-08-2020
Notification No. 33/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by DGRI-reg.

Date: 07-08-2020
Notification No. 34/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by DGRI-reg.

Date: 07-08-2020
Notification No. 32 /2020 –Customs
Seeks to amend notification No. 50/2017-Customs dated 30th June, 2017 so as to exempt goods for KKNP 5 and 6.

Date: 07-08-2020
Notification No. 70/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver - Reg.

Date: 06-08-2020
TRADE NOTICE No. 24 /2020-21
Extension of date for filling online applications for export quota of August 2020 for PPE Medical coverall for Covid-19.



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001