HPCL Swings Back To ₹3,625 Crore Profit In Q2 FY27; Revenue Jumps 26%

Mumbai: Hindustan Petroleum Corporation Limited (HPCL) reported a 6.1 per cent year-on-year decline in consolidated net profit to Rs 3,625.22 crore for the quarter ended September 30, 2026, compared with Rs 3,859.30 crore in the corresponding quarter last year.

The state-owned oil marketing company's consolidated revenue from operations rose 26 per cent to Rs 1,39,113.50 crore from Rs 1,10,396.98 crore in Q2 FY26, according to its unaudited financial results approved by the board on Thursday.

HPCL Q2 FY27 Financial Performance

HPCL's consolidated total income increased to Rs 1,39,575.40 crore from Rs 1,10,919.30 crore in the year-ago quarter.

Total expenses rose to Rs 1,33,228.03 crore from Rs 1,05,981.18 crore.

Profit before tax increased 32.9 per cent to Rs 6,820.13 crore from Rs 5,130.91 crore. However, tax expenses rose to Rs 3,194.91 crore from Rs 1,271.61 crore.

Basic and diluted earnings per share stood at Rs 17.04, compared with Rs 18.14 in the corresponding quarter last year.

On a standalone basis, HPCL reported a net profit of Rs 3,482.62 crore, compared with Rs 3,830.37 crore a year earlier.

Sequential Performance

HPCL returned to consolidated profitability in Q2 FY27 after reporting a net loss of Rs 12,264.67 crore in the preceding quarter.

However, consolidated revenue from operations declined 4.2 per cent sequentially from Rs 1,45,225.11 crore in Q1 FY27.

H1 FY27 Financial Performance

For the six months ended September 30, 2026, HPCL reported a consolidated net loss of Rs 8,639.45 crore, compared with a net profit of Rs 7,970.23 crore in the corresponding period last year.

Consolidated revenue from operations increased 23.3 per cent to Rs 2,84,338.61 crore from Rs 2,30,589.97 crore in H1 FY26.

LPG Compensation And Refining Margins

HPCL recognised Rs 3,960 crore towards government compensation for domestic LPG under-recoveries during April–September 2026.

The company's standalone average gross refining margin stood at $27.89 per barrel during the half-year, compared with $5.95 per barrel a year earlier, before factoring in specified export duties and cess.

HPCL also disclosed an unrecognised cumulative negative LPG buffer of Rs 18,048.82 crore as of September 30, 2026.

The statutory auditors noted that HPCL did not have the required number of independent directors under SEBI regulations. Their limited review conclusions were not modified.

Disclaimer: This report is based on unaudited financial results filed by the company and does not constitute investment advice.