New Delhi: Hindustan Petroleum Corporation Limited (HPCL) has posted an exceptional financial performance for the quarter and half-year period ending September 30, 2025. The company recorded an impressive 731% increase in standalone Profit After Tax (PAT) for the first half of FY26, reaching a remarkable Rs. 8,201 crore. This surge in profitability was driven by a robust performance across HPCL’s refining and marketing segments, highlighting the company’s strength in adapting to market dynamics.
Key Financial Highlights:
- Standalone PAT for H1 FY26: Rs. 8,201 crore, up 731% YoY
- Standalone PAT for Q2 FY26: Rs. 3,830 crore, up 507% YoY
- Gross Refining Margin (GRM) in Q2 FY26: US$ 8.80 per barrel, a significant increase from US$ 3.12 per barrel in Q2 FY25
- Revenue from Operations: Rs. 230,458 crore for H1 FY26, slightly up from Rs. 229,074 crore in the same period last year
HPCL’s second-quarter performance also showed impressive growth in its refining and marketing divisions, contributing to the surge in profits.
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Strong Refining Performance Fuels Growth
HPCL’s refineries reported a historic crude throughput of 13.23 MMT during H1 FY26, marking a 9.7% increase from 12.06 MMT in H1 FY25. The company’s Visakh Refinery achieved its highest-ever crude throughput of 8.14 MMT, operating at 108% of its enhanced capacity of 15 MMTPA. Similarly, the Mumbai Refinery recorded a throughput of 5.09 MMT, operating at 107% of its nameplate capacity of 9.50 MMTPA.
In Q2 FY26, HPCL’s refining segment further accelerated, processing 6.57 MMT of crude, up 4.3% from Q2 FY25. Visakh and Mumbai refineries continued to operate beyond their nameplate capacities, further reinforcing HPCL’s leadership in the refining space.
Steady Growth in Marketing and Sales
HPCL also achieved solid growth in its marketing segment, with sales volumes rising 3.5% YoY during H1 FY26, totaling 25.11 MMT. Domestic sales saw an increase of 2.7%, while the combined sales of Petrol (MS) and Diesel (HSD) grew by 1.9% YoY to 15.18 MMT. The total LPG sales (both domestic and non-domestic) grew by 6.2% YoY, reaching 4.60 MMT.
For Q2 FY26, HPCL’s marketing segment also performed well, with a 3.9% increase in sales YoY, amounting to 12.07 MMT. The growth was led by a 3.6% rise in domestic sales, alongside notable increases in LPG sales and petrol-diesel sales.
Advancements in Debt Management and Efficiency
HPCL made significant strides in managing its financial health, reducing its debt-equity ratio to 1.07 from 1.38 as of March 31, 2025. This reduction reflects the company’s ongoing efforts to strengthen its balance sheet and enhance financial sustainability.
Aviation Business Growth
In a further testament to its strong diversified portfolio, HPCL’s aviation business also reported a 6.1% growth in the quarter, outpacing the industry’s 2% degrowth.
Outlook and Strategic Focus
Commenting on the robust performance, HPCL’s management highlighted the company’s focus on operational excellence, sustainable growth, and strategic debt reduction as key drivers of its recent success. With a steady increase in refining throughput, strong sales growth, and enhanced refining margins, HPCL is positioned to maintain its upward trajectory and continue contributing significantly to India’s energy security and economic development.
About HPCL
Hindustan Petroleum Corporation Limited (HPCL) is a public sector undertaking (PSU) under the Ministry of Petroleum and Natural Gas, Government of India. HPCL is a major player in the Indian oil and gas sector, primarily engaged in refining, marketing, and distribution of petroleum products. The company operates large-scale refineries, an extensive retail network, and has made significant advancements in both its technological capabilities and market share. HPCL is committed to driving sustainable growth and innovation while enhancing its operational efficiency to meet the country’s growing energy demands.
