New Delhi, May 6 (IANS) Hindustan Petroleum Corporation Ltd. (HPCL) on Tuesday reported a standalone net profit of Rs 3,355 crore in for the January-March quarter of financial year 2024-25, which represents an 18 per cent increase over the corresponding figure for the same quarter of 2023-24.
The government-owned oil refining and marketing major’s total income during the fourth quarter came in at Rs 1.19 lakh crore.
HPCL also announced a final dividend of Rs 10.50 per equity share for the financial year which ended on March 31, 2025. The record date to determine the eligibility of the shareholders set to receive the payment has been set at August 14.
HPCL has drawn up a Rs 1.3 lakh crore investment plan for 2025 and beyond. The company aims to increase crude oil imports, expand its Vizag refinery, and commission the new Barmer oil refinery, and is also aiming for 10 GW of renewable energy capacity by 2030.
The company plans to increase the capacity of its Vizag oil refinery in southern India by as much as 20 per cent to meet growing local fuel demand.
HPCL recently expanded the capacity of the Vizag refinery to 300,000 barrels per day and is looking for a further increase. The company now has plans for another 20 per cent expansion of the refinery.
The oil major will soon start operations at the Vizag refinery’s new secondary units, including a 3.5 million-ton-per-year residue upgradation unit to boost its distillate yield by 10 per cent and improve its gross refining margin to increase profits.
Besides, HPCL is also building a hi-tech petrochemical plant at its 180,000 bpd Barmer refinery in Rajasthan. While crude processing at the Barmer refinery will begin in June-July, the petrochemical project will start operation by December, HPCL CMD Rajneesg Narang said recently.
HPCL is also investing in a lube expansion project at its Mumbai refinery and a deasphalting plant to boost bitumen production.
–IANS
sps/na
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
