Oil marketing company HPCL reported a 30 percent rise quarter on quarter in its net profit at Rs 4,371 crore on a flat revenue of Rs 1.10 lakh crore, the OMC said in an exchange filing on August 7. The margin grew at 6.9 percent as compared to 5.3 percent QoQ.
The average gross refining margin (GRM) of the company during the June quarter was $3.08 per barrel, lower than $5.03 a barrel in the same period last year.
Meanwhile, HPCL refineries recorded crude throughput of 6.66 million metric tonne (MMT) in Q1FY26, up 15.6 percent from 5.76 MMT in Q1FY25.
“The quarter also marked significant progress in capital projects at refineries and the launch of new initiatives aimed at strengthening profitability. HPCL has increased its refinery output significantly on back of the recent expansion projects, and also continues to increase its sales volume,” the company said in a press release.
In the quarter, HPCL product sales, including exports, was up by 3.2 percent year-on-year at 13.2 MMT. The combined sale of petrol and diesel was higher by 1.1 YoY in the quarter at 8.11 MMT.
Shares of the OMC ended higher recovering sharply from lows of the day, in line with the broader market trend.
During FY25, HPCL's capex was at Rs 14,500 crore, with FY26 capex guided at Rs 13,000–14,000 crore with an eye on completing ongoing projects.
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