New Delhi: Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported over six-fold rise in its Q1 net profit on back of inventory gains and a margin surge because of holding retail fuel prices despite a drop in input oil cost.
It reported consolidated net profit of Rs 4,110.93 crore in Q1 FY26 against Rs 633.94 crore earnings Q1 FY25, according to a stock exchange filing by the company. The Q1 profit is a record for HPCL and is more than half of the full 2024-25 fiscal year earnings. It had reported a net profit of Rs 6,735.70 crore in FY25.
Its turnover was almost unchanged at Rs 1.20 lakh crore when compared to Rs 1.21 lakh crore in Q1 FY25.
The company earned $3.08 on turning every barrel of crude oil into fuels like petrol and diesel in its refineries in Q1, against a gross refining margin of $ 5.03 per barrel in Q1 FY5.
The firm, just like its other state-owned peers, Indian Oil Corporation and Bharat Petroleum Corporation Ltd, did not revise retail petrol & diesel prices despite a fall in international rates.
HPCL profit from downstream petroleum business (basically fuel retailing) surged to Rs 6,144.10 crore in Q1 FY26 from Rs 907.86 crore in Q1 FY25.
The profit surge was despite Rs 2,148.03 crore of unpaid LPG subsidy for the quarter.