Hindustan Petroleum Q2 FY26 Earnings Results

Hindustan Petroleum Corporation Ltd (HPCL), a key oil refining and marketing company in India, posted a spectacular profit increase in Q2 FY26 despite modest revenue growth.

Financial Snapshot (Q2 FY26):

• Revenues rose marginally by 0.9% to ₹1,00,856 crore from ₹99,957 crore last year.
• Total expenses declined 3.69% to ₹96,439 crore from ₹1,00,135 crore.
• Consolidated net profit soared to ₹3,859 crore, up 2598.6% from ₹143 crore in Q2 FY25.
• Earnings per share (EPS) jumped to ₹18.14 from ₹0.67, a 2607.5% increase.

Key Highlights:

• Crude throughput increased 4.3% YoY to 6.57 MMT, with refineries operating above 100% capacity.
• Gross refining margin (GRM) rose substantially to USD 8.8 per barrel from a deeply negative level a year ago, driving margin recovery.
• Operating profit doubled to ₹6,852 crore with margins expanding to 6.83%.
• Profit before tax advanced over 6-fold reflecting improved refining economics and cost control.
• The turnaround was supported by higher realizations, efficiency gains, and better product mix.
• HPCL declared interim dividend of ₹5 per share.

Outlook:

HPCL’s stellar earnings growth reflects a strong turnaround in refining margins amid volatile market conditions. The company is well-positioned to sustain value creation through operational excellence and strategic investments in refining and energy transition capabilities.

This exceptional profit surge highlights HPCL’s successful navigation of market cycles and improving fundamentals.

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