HPCL Q3 Profit Jumps 35% on Refining Margin Boost

New Delhi, Jan 21 (PTI) Hindustan Petroleum Corporation Ltd (HCPL) on Wednesday reported a 35 per cent jump in net profit in the December quarter on the back of an increase in refining margins.

Standalone net profit of Rs 4,072.49 crore in the October-December period -- the third quarter of the 2025-26 fiscal year -- compared with Rs 3,022.90 crore earning in the same period a year back, according to a company statement and stock exchange filing.

The company, which operates two refineries in Mumbai and Vizag that convert crude oil pumped out of ground and below seabed into fuels like petrol and diesel, processed a slightly lower crude at 6.38 million tonnes in the third quarter.

But its earning from turning every barrel of crude into fuel rose to USD 8.85 as compared to USD 6.01 per barrel in Q3 of the previous financial year.

Revenue from operations rose to Rs 1.24 lakh crore from Rs 1.19 lakh crore.

For the nine months ended December 31, standalone net profit soared 206 per cent to Rs 12,274 crore. This was due to "resilient refinery performance with 5.8 per cent increase in throughput (19.61 million tonnes) and steady growth in marketing with 3.6 per cent increase in sales volumes (38.45 million tonnes)," the statement said.

HPCL said it has made continuous progress on reduction of debt-equity ratio -- 0.89 as on December 31, 2025 as compared to 1.07 as on September 30, 2025.

"Two new grades of crude oil were processed during Q3 FY26, taking the total number of new grades processed during 9M FY26 to seven," it said.


Capex during the quarter under review was Rs 4,976 crore, taking cumulative in the first nine months of the fiscal year to Rs 11,094 crore.

This was "focused on strengthening refining and marketing infrastructure, including investments in subsidiaries and joint venture companies to build additional capacities, new business lines and improving operating efficiencies," HPCL said.

Giving operational details, the company said it commissioned residue upgradation facility (RUF) at Visakh Refinery, featuring the world's first and largest LC-Max unit. With a capacity of 3.55 million tonnes per annum, this LC-Max–based RUF is among the world's most advanced facilities, enabling 93 per cent conversion of bottom-of-the-barrel residues into high-value distillates.

"The unit enhances the refinery's ability to process heavier and opportunity crudes while improving the Nelson Complexity Index of the refinery to 11.6.

"This state-of-the-art facility maximises recovery of high-value products from crude oil with minimal residue generation," it said.

HPCL said it has completed 90 per cent of physical construction of the 9 million tonnes refinery in Rajasthan.

"Crude oil has been received in refinery tanks and crude-in in crude distillation unit (the primary unit processing crude) is expected by the end of January, 2026."

HP Aviation refuelling facility commenced at Navi Mumbai International Airport during the quarter, taking the total jet fuel refuelling facilities to 59.

HPCL commissioned 321 petrol pumps during the quarter to take the total to 24,572. Also, five new LPG distributors were added, taking the total to 6,389.