Hindustan Petroleum Corporation (HPCL) is likely to report a profit of Rs 1,479.4 crore in March quarter, down 67.9 percent compared to Rs 4,609.2 crore in the year-ago period, according to a CNBC-TV18 poll. The company will announce its earnings on May 28.
Analysts feel the sequential improvement may be much better. In Q3FY15, the state-run oil retailer had reported a loss of Rs 325.4 crore on revenue of Rs 51,045 crore.
Sales are seen falling 27.6 percent year-on-year to Rs 46,428.2 crore and operating profit may decline 55.6 percent to Rs 2,635.8 crore in the quarter gone by. HPCL had an operating loss of Rs 101.5 crore in Q3FY15.
Analysts expect upstream PSUs to be exempted from subsidy payment, with the entire burden to be borne by the government. Hence in Q4, the under-recoveries of oil marketing companies (OMCs) for FY15 may be fully compensated.
They expect superior operating profitability from OMCs in Q4FY15 led by higher gross refining margin (GRM) and higher auto fuel marketing margins.
Estimated gross under-recoveries for the quarter may be at Rs 8,500 crore (against Rs 16,000 crore in Q3).
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