HPCL Q1 Profit Soars 6x to Rs 4,111 Cr

New Delhi, Aug 7 (PTI) Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported an over six-fold jump in its first quarter net profit on the back of inventory gains and a margin surge because of holding retail fuel prices despite a drop in input oil cost.

Its consolidated net profit of Rs 4,110.93 crore in April-June - the first quarter of the 2025-26 fiscal year - compared to Rs 633.94 crore earnings in the same period of the last year, according to a stock exchange filing by the company.

The first quarter profit is a record for HPCL and is more than half of the full 2024-25 (April 2024 to March 2025) fiscal year earnings. It had reported a net profit of Rs 6,735.70 crore in FY25.

Its turnover was almost unchanged at Rs 1.20 lakh crore when compared to Rs 1.21 lakh crore in April-June 2024.

The company earned USD 3.08 on turning every barrel of crude oil into fuels like petrol and diesel in its refineries in Q1, against a gross refining margin of USD 5.03 per barrel in the same period of the last year.

The earning boost came from inventory gains - getting a higher price for products made from raw material bought at a lower rate.

Also, the firm, just like its other state-owned peers, Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Ltd (BPCL), did not revise retail petrol and diesel prices despite a fall in international rates.

Its pre-tax profit from the downstream petroleum business (basically fuel retailing) surged to Rs 6,144.10 crore in April-June from Rs 907.86 crore last year.

The profit surge was despite Rs 2,148.03 crore of unpaid LPG subsidy for the quarter.