BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
In Q2 FY22, Hindustan Petroleum Corporation Ltd.’s’ sales grew by 42.2% YoY and 12.9% QoQ to Rs 876 billion.
Standalone Ebitda decreased by 16.4% YoY and 5.6% QoQ to Rs 30 billion.
Net profit declined by 22.4% YoY and increased by 7.2% QoQ to Rs 19.2 billion, mainly supported by increase in other income which grew by 21% YoY to Rs 4.5 billion.
HPCL reported gross refining margins of $2.4/barrel of oil during the quarter while refinery utilisation remained at 64% in Q2 FY22.
We are revising our profit after tax estimates downwards by 6.7% and 14% for FY22 and FY23 respectively.
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