HPCL quarter profit falls 6% on fuel losses

Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported a 6 per cent fall in September quarter net profit as losses on sale of fuels like petrol, diesel and cooking gas LPG wiped away bumper gains from refining margins.

Consolidated net profit of Rs 3,625.22 crore in July-September — the second quarter of the current 2026-27 fiscal year — compared with Rs 3,859.30 crore earning a year back, according to a stock exchange filing by the company.

The company earned a record $32.15 on turning every barrel of crude oil into fuel in the quarter as compared to a gross refining margin of $8.80 a barrel in the same period a year back.

However, the bumper refining margins were wiped away by losses the firm incurred on selling petrol, diesel and cooking gas LPG as retail rates have remained unchanged despite a spurt in benchmark international prices.

For six months ended September 30, HPCL booked Rs 8,639.45 crore loss as compared to of Rs 7,970.23 crore profit in the corresponding period the previous year.

Revenue from operations rose 26.1 per cent year-on-year to Rs 1.39 lakh crore in the second quarter of FY27, from Rs 1.10 lakh crore a year earlier.