HPCL net profit slips 9% amid volatile crude prices in Q2
The Mumbai-headquartered oil-marketing company’s gross refining margin stood at $32.15 for every barrel during the reported quarter.
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Updated - October 22, 2026 08:11 pm IST - NEW DELHI
HPCL’s gross refining margin rose sharply to $32.15 per barrel during the quarter | Photo Credit: The Hindu
State-owned Hindustan Petroleum Corporation Ltd. (HPCL) reported a 9% year-on-year (YoY) decline in standalone net profit to ₹3,483 crore in the second quarter, amid volatility in benchmark crude oil prices following the reignited conflict in West Asia.
The Mumbai-headquartered oil marketing company’s gross refining margin (GRM), a key indicator of refining profitability, rose sharply to $32.15 per barrel during the quarter, compared with $8.80 per barrel in the corresponding period last year.
Revenue increased 26% YoY to more than ₹1.39 lakh crore during the reported quarter.
HPCL’s total sales volumes, including exports, grew 5.5% to 12.73 million metric tonnes (MMT).
Domestic sales rose 4.9% YoY, while combined sales of petrol and diesel increased 10% to 7.78 MMT.
The company processed 6.2 MMT of crude oil during the quarter, operating its refineries at a capacity utilisation rate of 100.4%.
oil and gas - downstream activities / earnings / economy, business and finance / business (general) / oil and gas - upstream activities / annual and special corporate meeting / energy resources
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