State-run Hindustan Petroleum Corporation (HPCL) on Thursday reported a multi-fold jump y-o-y and 21 per cent q-o-q in its consolidated net profit at around ₹4,111 crore during Q1 FY26 aided by inventory gains as well as strong operational and financial performance.
In Q1 FY25, HPCL had posted a 91 per cent y-o-y drop in its consolidated net profit at around ₹634 crore on account of lower refining margins and higher costs. Its average Gross Refining Margin (GRM) stood at $5.03 per barrel as against $7.44 in Q1 FY24 and $6.95 per barrel in Q4 FY24.
The consolidated total income of the oil marketing company (OMC) during the June quarter in FY26 was largely flat at around ₹1.21 lakh crore, compared to ₹1.19 lakh crore in Q4 FY25 and ₹1.22 lakh crore in Q1 FY25.
Its consolidated total expenses during July-September 2025 stood at around ₹1.15 lakh crore against ₹1.15 lakh crore in Q4 FY25 and ₹1.21 lakh crore in Q1 FY25.
ON LPG under recoveries, HPCL said in its results regulatory filing said the OMC has a negative buffer of around ₹13,043 crore as on June 30, 2025, compared to around ₹10,895 crore as on March 31, 2025 and ₹2,444 crore as on June 30, 2024.
“Q1 FY26 witnessed a strong operational and financial performance. Refineries recorded quarterly throughput of 6.66 million tonnes (mt) registering a y-o-y growth of 15.6 per cent, and an average utilisation of 109 per cent. The Market sales volume of 13.04 mt (including exports) for the quarter were at a record high, representing a growth of 3.2 per cent,” HPCL said in a statement.
It said the company’s GRM stood at $3.08 per barrel in Q1 FY26 against $5.03 per barrel in Q1 FY25. HPCL’s sales volume rose 3.2 per cent y-o-y to 13.04 mt in Q1 FY26. Pipeline throughput stood at 6.70 mt during the same period.
Published on August 7, 2025
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