HPCL Share Price Target 2023, HPCL Q2 Results 2023: Foreign brokerage Jefferies has revised the price target of state-owned Hindustan Petroleum Corporation Ltd (HPCL) after the company reported returning to profitability in the September quarter after a boost in marketing margin improved its earnings. The company logged a consolidated net profit of Rs 5,826.96 crore in July-September 2023-24. In the year-ago period, the company had a loss of Rs 2,475.69 crore.
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HPCL Share Price Target 2023
Jefferies has tagged ‘Underperformer’ rating on the stock with a revised price target of Rs 225 from Rs 210, recommended earlier.
HPCL Share Price History
At the time of filing this report, the stock was trading at Rs 271.25 apiece on the National Stock Exchange (NSE), up by 3.49 per cent or Rs 9.15. The stock has delivered 14.44 per cent return on YTD basis, while the counter has multiplied investors wealth by a whopping 29.32 per cent in the last 12 months. In last three year, it has given 32.35 per cent returns, making investors richer with massive gains.
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HPCL Q2 Results 2023
PTI reported that the profit was aided by a boost in marketing margins as a freeze on petrol and diesel price revision despite a fall in input crude oil prices helped recover losses incurred when rates were high last year. Pre-tax earnings from the downstream oil refining and marketing business came at Rs 6,984.60 crore in the second quarter of the current fiscal. In the year-ago period there was a loss of Rs 2,462.57 crore.
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HPCL said it earned USD 10.49 on turning every barrel of crude oil into fuel in April-September 2023 as compared to a gross refining margin of USD 12.62 in the corresponding period last year. In the current quarter, the refinery throughput was 5.75 million tonne versus 4.49 million tonne in Q2 FY22-23. Domestic fuel sales rose to 10.08 million tonne in Q2 FY 23-24 from 9.87 million tonne a year back.
