HPCL Q1 Results: Net profit surges over 6-fold to ₹4,111 crore, turnover stable at ₹1.2 lakh crore

Hindustan Petroleum Corporation Ltd (HPCL) on Thursday, August 7, reported an over six-fold jump in its consolidated net profit for the first quarter of the current fiscal year (Q1 FY26) to ₹4,110.93 crore from ₹633.94 crore posted in the year-ago period.

The profit jumped as much as 548.4% year-on-year (YoY) on the back of inventory gains and a margin surge, because of holding retail fuel prices, despite a drop in input oil cost.

The Q1 FY26 profit is more than half of the full FY25 earnings, which were at ₹6,735.70 crore.

However, the company's turnover remained stable during Q1 FY26 at ₹1.20 lakh crore as against ₹1.21 lakh crore in the June quarter of FY25.

HPCL earned $3.08 on turning every barrel of crude oil into fuels, like petrol and diesel, in its refineries in the April-June quarter, as compared to a gross refining margin of $5.03 per barrel in Q1 FY25.

The growth in earnings came from inventory gains, which is basically when a company gets a higher price for the products it made from raw materials bought at a lower rate.

Further, HPCL, like its other state-owned peers, Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Ltd (BPCL), did not change retail petrol and diesel prices even though there was a decline in international rates.

HPCL's profit before tax from the downstream petroleum business (fuel retailing) soared to ₹6,144.10 crore in the April-June period of FY26, up 576.7% a year ago. The rise in profit was recorded despite the company paying an unpaid subsidy worth ₹2,148.03 crore for the quarter.

HPCL shares

Shares of HPCL ended 0.4% up at ₹403 apiece on the NSE on Thursday, August 7, after opening at ₹401 apiece. During the session, the stock touched an intraday high of ₹403.2 per share. The company's market capitalisation stands at ₹85,751.25 crore.

The stock hit its 52-week high of ₹457.15 per share on September 5, 2024, while it was at its 52-week low of ₹287.55 apiece on March 3, 2025.

Over the last five days, HPCL shares have fallen by 2.87%, while the scrip has fallen by as much as 10.02% in the last one month.

However, the stock has gained 17.66% in the last six months. Year-to-date, HPCL shares have fallen by 2.27%.