HPCL posts net profit of Rs. 31 crore during third quarter of current financial

Hindustan Petroleum Corporation has reported a net profit of Rs. 31 crore for the third quarter ended December 31, 2009. The company had a net loss of Rs 422 crore in the same period previous fiscal, HPCL said in a filing to the Bombay Stock Exchange. However, the company's total income dropped to Rs. 28,099 crore for the October-December quarter, from Rs. 29,541 crore in the same period last fiscal.

 

It may be recalled that HPCL's Mumbai Refinery rolled out the first batch of  BS-IV MS [Petrol] for meeting their North and North West needs. The aforesaid refinery had undertaken the project for up-gradation of Motor Spirit Fuel quality to meet BS-III & BS-IV specifications. This project consists of three major units namely, Naphtha Hydrotreating / Catalytic Reformer, FCCU Naphtha Hydrotreater and Isomerisation unit.

 

These units are getting commissioned phase-wise from May, 2009 and on 4th January, 2010; HPCL's Mumbai Refinery has achieved one more significant step by manufacturing BS-IV MS which is mandatory as per the Auto Fuel Policy for implementation of BS-IV Fuel in select 13 cities and BS-III Fuel in rest of the country. HPCL plans to supply BS-IV MS from their marketing installations / depots, effective 1st April, 2010.

 

However, as a pre-preparatory [dilution] exercise, the BS-IV MS was rolled out on 4th Jan., 2010, only to HPCL's Marketing installations. The first batch of EURO-IV MS was launched at the hands of their chairman & managing director, Arun Balakrishnan in the presence of director (Marketing), S. Roy Choudhury, director -HR, V. Vizia Saradhi, director – Finance, B. Mukherjee, director - Refineries, K. Murali and other Senior Officials from HQO and Mumbai Refinery.

 

This is a rare distinction that HPCL, Mumbai Refinery is the first among all Public Sector Refineries in manufacturing BS-IV MS production, having stringent quality, specs like Sulphur less than 50 PPM, Olefins less than 21 per cent and Aromatics less than 35 per cent.