Moneycontrol
Oct 19, 2016 01:16 PM IST IST | Source: Moneycontrol.com

HPCL Q2 PAT seen down 65.9% to Rs 714.8 cr: Religare

Net Sales are expected to increase by 2.5 percent Q-o-Q (up 9.3 percent Y-o-Y) to Rs 45891.8 crore, according to Religare.


Religare has come out with its second quarter (July-September) earnings estimates for the India Energy sector. The brokerage house expects Hindustan Petroleum to report net profit at Rs 714.8 crore, down 65.9 percent quarter-on-quarter.


Net Sales are expected to increase by 2.5 percent Q-o-Q (up 9.3 percent Y-o-Y) to Rs 45891.8 crore, according to Religare.


Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 60.7 percent Q-o-Q to Rs 1399.5 crore.


Religare's report on Hindustan Petroleum


Updates on market share for petroleum product sales; note that HPCL has been gaining market share over the last two years.


HPCL’s earnings to decline the most among peers to Rs 7bn (-66% QoQ) on lower GRMs and lack of inventory gains. GRMs expected to decline to US$ 4.5/bbl on lower light distillate spreads, underperforming OMC peers and benchmark GRMs.

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