{"id":181237,"date":"2026-02-17T23:20:24","date_gmt":"2026-02-18T04:20:24","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=181237"},"modified":"2026-02-17T23:20:24","modified_gmt":"2026-02-18T04:20:24","slug":"hindustan-oil-exploration-posts-lower-q3-fy26-profit-as-production-mix-and-crude-sales-timing-impact-earnings","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/hindustan-oil-exploration-posts-lower-q3-fy26-profit-as-production-mix-and-crude-sales-timing-impact-earnings\/","title":{"rendered":"Hindustan Oil Exploration posts lower Q3 FY26 profit as production mix and crude sales timing impact earnings"},"content":{"rendered":"\n<p><strong>Hindustan Oil Exploration Company Limited (BSE: 500186 \/ NSE: HINDOILEXP)<\/strong> reported lower consolidated earnings for the quarter ended December 31, 2025, as reduced revenue and higher operating costs offset production gains from key fields, according to its Q3 FY26 disclosures.<\/p>\n\n\n\n<p>Consolidated revenue from operations declined to \u20b981.04 crore in Q3 FY26 from \u20b9156.12 crore in Q3 FY25. Net profit for the quarter stood at \u20b98.28 crore, compared with \u20b943.32 crore in the year-ago quarter.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"939\" height=\"588\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-87.png\" alt=\"\" class=\"wp-image-181239\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-87.png 939w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-87-300x188.png 300w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-87-768x481.png 768w\" sizes=\"auto, (max-width: 939px) 100vw, 939px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Business overview<\/strong><\/h2>\n\n\n\n<p>HOEC is engaged in the acquisition, exploration, development and production of crude oil and natural gas in India across offshore and onshore blocks. Its portfolio includes producing and development assets in Mumbai Offshore, Assam, Cambay Basin and Cauvery Offshore.<\/p>\n\n\n\n<p>The company reported presence across 10 out of 11 blocks with discovered or producing resources and operations in four out of seven producing basins in India.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Financial performance \u2014 Q3 FY26<\/strong><\/h2>\n\n\n\n<p>Total consolidated income for Q3 FY26 stood at \u20b979.11 crore versus \u20b9150.19 crore in Q3 FY25. Total expenses were \u20b972.25 crore, resulting in profit before tax of \u20b96.86 crore compared with \u20b952.47 crore a year earlier. Net profit for the quarter came in at \u20b98.28 crore, while earnings per share declined to \u20b90.63 from \u20b93.28 in Q3 FY25.<\/p>\n\n\n\n<p>For the nine months ended December 31, 2025, consolidated revenue rose to \u20b9491.86 crore, with net profit at \u20b954.98 crore compared with \u20b996.05 crore in the corresponding period last year.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"940\" height=\"588\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-88.png\" alt=\"\" class=\"wp-image-181240\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-88.png 940w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-88-300x188.png 300w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/image-88-768x480.png 768w\" sizes=\"auto, (max-width: 940px) 100vw, 940px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Production and operating metrics<\/strong><\/h2>\n\n\n\n<p>Gross production increased to 5,123 barrels of oil equivalent per day (BOEPD) in Q3 FY26 from 4,788 BOEPD in Q2 FY26, while net production rose to 2,491 BOEPD from 1,939 BOEPD.<\/p>\n\n\n\n<p>Key field performance included:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Dirok:<\/strong> Average gas production of 12.83 mmscfd with condensate output of about 227 barrels per day.<\/li>\n\n\n\n<li><strong>B-80 Mumbai Offshore:<\/strong> Average output of 4.57 mmscfd gas and 497 barrels of oil per day.<\/li>\n\n\n\n<li><strong>Kharsang:<\/strong> Oil production averaged 767 barrels per day.<\/li>\n\n\n\n<li><strong>Cambay:<\/strong> Production of 0.38 mmscfd gas and 71 barrels of oil per day.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key developments<\/strong><\/h2>\n\n\n\n<p>HOEC increased participating interest in the B-80 Mumbai offshore field to 100% and continued production from two wells. The company also signed a Revenue Sharing Contract for Block B-15, where development planning is underway for drilling four wells. In Dirok, civil work for development wells and pipeline infrastructure progressed, while the North-East Gas Grid is expected to be completed around March\u2013April 2026.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Balance sheet and operational factors<\/strong><\/h2>\n\n\n\n<p>During the period, HOEC reported an exceptional gain of \u20b932.52 crore related to fair value remeasurement of previously held participating interest after taking over additional stake in Block B-80.<\/p>\n\n\n\n<p>The company also disclosed outstanding receivables from crude sales to Hindustan Petroleum Corporation Limited (HPCL), with quality-related discussions ongoing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Risks and constraints<\/strong><\/h2>\n\n\n\n<p>Company filings indicate that performance is influenced by crude pricing, production mix, realization timing, regulatory approvals and infrastructure readiness such as pipeline connectivity. Labour code implementation also had incremental cost impact during the quarter.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Outlook<\/strong><\/h2>\n\n\n\n<p>Management stated that development plans across B-80, B-15, Dirok and PY-1 redevelopment are aimed at increasing production and monetization of discovered resources, supported by ongoing drilling and infrastructure expansion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hindustan Oil Exploration Company Limited (BSE: 500186 \/ NSE: HINDOILEXP) reported lower consolidated earnings for the quarter ended December 31, 2025, as reduced revenue and higher operating costs offset production gains from key fields, according to its Q3 FY26 disclosures. Consolidated revenue from operations declined to \u20b981.04 crore in Q3 FY26 from \u20b9156.12 crore in [&hellip;]<\/p>\n","protected":false},"author":2390,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[392,1941,5746,5],"tags":[16637,16635,16636,16634,16638],"class_list":["post-181237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings","category-stock-analysis","category-energy-stocks","category-latest","tag-hindoilexp","tag-hindoilexp-q3-fy26","tag-hindustan-oil-exploration","tag-oil-and-gas-india","tag-upstream-energy-india"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":170430,"url":"https:\/\/alphastreet.com\/india\/hpcl-q1-fy26-earnings-results\/","url_meta":{"origin":181237,"position":0},"title":"HPCL Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"August 21, 2025","format":false,"excerpt":"Hindustan Petroleum Corporation Ltd (HPCL) is a major Indian company engaged in refining crude oil, marketing petroleum products, producing hydrocarbons, and providing services for management of E&P (Exploration & Production) Blocks. Presenting below are its Q1 FY26 Earnings Results. Q1 FY26 Earnings Results Revenue: \u20b91,10,825 crore, down 2.69% year-on-year (YoY)\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"HINDPETRO Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/HIND-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/HIND-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/HIND-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/HIND-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/HIND-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/HIND-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":179787,"url":"https:\/\/alphastreet.com\/india\/hindustan-copper-q3-fy26-earnings-results\/","url_meta":{"origin":181237,"position":1},"title":"Hindustan Copper Q3 FY26 Earnings Results","author":"Divyansh_Kasana","date":"February 6, 2026","format":false,"excerpt":"Hindustan Copper Ltd posted exceptional Q3 FY26 results with revenue more than doubling amid copper price strength. The sole integrated copper producer showcased operational leverage through the value chain. Executive Summary Hindustan Copper Ltd reported consolidated revenues of \u20b9687 crore for Q3 FY26, up 109.45% YoY from \u20b9328 crore. Net\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/COP.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/COP.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/COP.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/COP.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/COP.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/COP.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":177092,"url":"https:\/\/alphastreet.com\/india\/hpcl-reports-q3-fy26-profit-of-%e2%82%b92229-crore-revenue-of-%e2%82%b91-12-trillion\/","url_meta":{"origin":181237,"position":2},"title":"HPCL reports Q3 FY26 profit of \u20b92,229 crore, revenue of \u20b91.12 trillion","author":"Staff Correspondent","date":"January 22, 2026","format":false,"excerpt":"Hindustan Petroleum Corporation Ltd (BSE: 500104 \/ NSE: HINDPETRO) reported consolidated profit after tax of \u20b92,229 crore for the quarter ended December 2025, compared with \u20b95,317 crore in the same period a year earlier, according to its quarterly financial results. Revenue from operations stood at \u20b91.12 trillion for the quarter,\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":172368,"url":"https:\/\/alphastreet.com\/india\/hindustan-aeronautics-q2-fy26-earnings-results\/","url_meta":{"origin":181237,"position":3},"title":"Hindustan Aeronautics\u00a0Q2 FY26 Earnings Results","author":"Divyansh_Kasana","date":"November 13, 2025","format":false,"excerpt":"Hindustan Aeronautics Ltd, engaged in manufacturing and maintaining aircraft and helicopters, reported a challenging quarter in Q2FY26 with declining revenues and profits. 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Consolidated net profit declined 15.2% to\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Q2 FY26","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/H-2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/H-2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/H-2.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/H-2.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/H-2.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/H-2.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":173281,"url":"https:\/\/alphastreet.com\/india\/hindustan-zinc-q3-fy26-earnings-results\/","url_meta":{"origin":181237,"position":4},"title":"Hindustan Zinc Q3 FY26 Earnings Results","author":"Divyansh_Kasana","date":"January 22, 2026","format":false,"excerpt":"Incorporated in 1966, Hindustan Zinc in Zinc-Lead and Silver business is world\u2019s 2nd largest integrated Zinc producer and Hindustan Zinc is the 3rd largest silver producer globally with an annual capacity of 800MT. The company has a market share of ~75% of the growing Zinc market in India with its\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/hind.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/hind.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/hind.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/hind.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/hind.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/hind.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":142242,"url":"https:\/\/alphastreet.com\/india\/earnings-summary-of-hindustan-copper-limited-for-q3-fy23\/","url_meta":{"origin":181237,"position":5},"title":"Earnings Summary Of Hindustan Copper Limited For Q3 FY23","author":"Hardik Bhandare","date":"February 17, 2023","format":false,"excerpt":"Hindustan Copper Limited (NSE: HINDCOPPER) is a public sector enterprise under the Ministry of Mines, Government of India. The company is engaged in the exploration, mining, and production of copper ore and other minerals. HINDCOPPER operates mines and smelting plants in the Indian states of Rajasthan, Madhya Pradesh, Jharkhand, and\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-7-2.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-7-2.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-7-2.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-7-2.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-7-2.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/898c572d-b97a-4c10-acd3-c5f4d9ad88be-7-2.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/181237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2390"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=181237"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/181237\/revisions"}],"predecessor-version":[{"id":181241,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/181237\/revisions\/181241"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=181237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=181237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=181237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}