FY26: HPCL posts 206% jump in 9-month profit

New Delhi: Hindustan Petroleum Corporation Limited (HPCL) on Wednesday reported a robust financial and operational performance for the quarter and nine months ended December 31, driven by improved refining margins, steady marketing growth and progress in advanced refining infrastructure.

The company recorded a sharp increase in profitability, with standalone profit after tax (PAT) for the first nine months of FY26 rising 206 per cent year-on-year to Rs 12,274 crore, compared to Rs 4,010 crore in the corresponding period last year. Consolidated PAT during the same period increased 261 per cent to Rs 11,982 crore. For the third quarter, standalone PAT stood at Rs 4,072 crore, up 35 per cent over Q3 FY25, while consolidated PAT rose to Rs 4,011 crore.

Revenue from operations for the nine months grew to Rs 3,54,941 crore from Rs 3,48,012 crore a year earlier. In Q3 FY26, revenue stood at Rs 1,24,483 crore compared to Rs 1,18,938 crore in the same quarter of the previous year. Gross refining margin improved to an average of US$ 6.91 per barrel in 9M FY26 from US$ 4.73 per barrel in 9M FY25, while Q3 GRM rose to US$ 8.85 per barrel.

HPCL’s refining operations achieved their highest-ever crude throughput of 19.61 million metric tonnes (MMT) during the first nine months of FY26, registering a growth of 5.8 per cent year-on-year. The Visakh Refinery processed a record 12.15 MMT, operating at 108 per cent of its enhanced nameplate capacity, while the Mumbai Refinery processed 7.46 MMT at 104 per cent of its rated capacity. Total refinery throughput during Q3 stood at 6.38 MMT. The company also processed two new crude grades in Q3, taking the total number of new grades in 9M FY26 to seven.

A key development during the quarter was the commissioning of the Residue Upgradation Facility at the Visakh Refinery, based on LC-Max technology, with a capacity of 3.55 MMTPA and conversion of around 93 per cent of residues into high-value distillates.

On the marketing side, HPCL reported sales of 38.45 MMT during 9M FY26, including exports, reflecting a 3.6 per cent growth. Domestic sales increased 2.9 per cent, while combined petrol and diesel sales stood at 23.28 MMT. LPG sales rose 7.2 per cent to 7.12 MMT. Pipeline throughput was 19.06 MMT, while Q3 sales increased 3.7 per cent year-on-year to 13.34 MMT.

The company strengthened its balance sheet, with the standalone debt-equity ratio improving to 0.89 as of December 31, 2025.