Revenue increased 30.3% YoY (down 6% QoQ) to Rs 114172.3 crore. HPCL achieved crude throughput of 4.49 MMT, up 77.5% YoY (down 6.7% QoQ) during the quarter. Reported GRMs was at US$ 8.3/bbl. The company received a one-time grant of Rs 5617 crore from the Government of India for under-recoveries incurred on sale of domestic LPG. EBITDA loss came in at Rs 1497.9 crore. Consequently, net loss was at Rs 2172.1 crore
HPCL's crude throughput and marketing sales have declined QoQ in Q2FY23. On the refining front, product cracks dipped from elevated levels seen in Q1FY23. Passing on higher retail prices of petrol & diesel (due to increase in crude oil costs) to customers will be important for HPCL's performance in the near term
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