Hindustan Petroleum Corporation Ltd (HPCL) reported a 6% year-on-year drop in Q2 FY27 net profit to ₹3,625 crore, despite a strong 26% revenue surge. Rising impacted input costs, narrowing margins even as sales volumes grew significantly.
₹3,625 crore
Net Profit
Q2 FY26: ₹3,856 crore→₹3,625 crore
📊 One chart explains it
HPCL Net Profit (YoY Growth %)
Takeaway: HPCL's net profit growth saw a significant decline in Q2 FY27 compared to previous years, reflecting current market challenges.
⏳ Time Machine
How today’s news fits into the bigger picture
April-June 2022 (Q1 FY23)
OMCs Face Record Losses
Indian OMCs, including HPCL, reported significant losses due to high international and a freeze in retail fuel prices. HPCL posted a consolidated net loss of ₹10,197 crore in Q1 FY23, its highest quarterly loss in over a decade.
April-June 2026 (Q1 FY27)
HPCL Reports Quarterly Loss
HPCL recorded a net loss of ₹607 crore in Q1 FY27, highlighting continued vulnerability to crude price volatility and refining margins. This preceded the Q2 recovery.
July-September 2025 (Q2 FY26)
Strong Profitability Achieved
HPCL reported a net profit of ₹3,856 crore in Q2 FY26, driven by favorable and robust s (GRMs) of $11.5 per barrel, setting a high base for the current quarter's comparison.
September 2026
Crude Oil Price Surge
Brent climbed above $112 a barrel, driven by renewed geopolitical tensions in West Asia, increasing input costs for refiners like HPCL and impacting their margins.
Today
HPCL reported a 6% year-on-year decline in Q2 FY27 net profit to ₹3,625 crore, despite a 26.1% revenue surge.
What happens next?
HPCL will continue to focus on optimizing refinery operations and product mix to navigate crude price volatility in the coming quarters.
State-owned oil marketing company Hindustan Petroleum Corporation Ltd (HPCL) announced its second-quarter (Q2 FY27) results, revealing a **6% year-on-year decline in net profit to ₹3,625 crore**. This dip occurred despite a robust **26.1% increase in revenue from operations**, which reached an impressive ₹1.24 lakh crore. The company attributed the profit compression to higher crude oil prices, which pushed up input costs and squeezed Gross Refining Margins (GRMs). However, HPCL saw a positive trend in its sales volumes, with domestic fuel sales growing by **6%**, reflecting recovering demand. The company also continued to invest in infrastructure development, including pipeline projects and marketing terminal upgrades, indicating long-term growth focus.
💭 If you're wondering…
GRM is the difference between the value of refined petroleum products and the cost of crude oil. It's a key profitability metric for refiners like HPCL; a higher GRM means better profits.
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