Mumbai: Hindustan Petroleum Corporation Ltd (HPCL) reported a 46 percent year-on-year jump in standalone net profit to Rupees 4,901.5 crore in Q4 FY26, supported by improved refining margins, LPG compensation support, and stronger operational performance. Revenue from operations rose 4.5 percent to Rupees 1,23,074.8 crore during the March quarter from Rupees 1,17,774.4 crore a year ago.

The state-run oil marketing company posted total income of Rupees 1,24,538.4 crore for the quarter ended March 2026, compared with Rupees 1,19,133.2 crore in the corresponding quarter last year. Profit before tax increased sharply to Rupees 6,549.8 crore against Rupees 4,304.4 crore in Q4 FY25. Earnings per share rose to Rupees 23.04 from Rupees 15.77 a year earlier.

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Sequential Performance Improves

On a sequential basis, HPCL’s net profit climbed 20.4 percent from Rupees 4,072.5 crore reported in Q3 FY26. However, revenue from operations marginally declined from Rupees 1,23,953.3 crore in the December quarter. Total expenses fell to Rupees 1,17,988.6 crore from Rupees 1,19,756.8 crore in Q3, primarily due to lower purchase costs and inventory-related adjustments.

Finance costs rose to Rupees 965 crore during the quarter compared with Rupees 674 crore in Q3, while depreciation and amortisation expenses increased to Rupees 2,399.8 crore from Rupees 1,618.9 crore. Despite higher finance and depreciation charges, the company maintained stronger profitability due to better refining economics and operational efficiencies.

LPG Compensation, Refining Margins Support Earnings

HPCL said its average gross refining margin (GRM) for FY26 improved to 8.79 dollars per barrel from 5.74 dollars per barrel in FY25. The company also recognised Rupees 3,300 crore during FY26 towards compensation for LPG under-recoveries after receiving communication from the Ministry of Petroleum and Natural Gas.

The board recommended a final dividend of Rupees 19.25 per equity share of face value Rupees 10 each for FY26. This is in addition to the interim dividend of Rupees 5 per share already paid during the year. The record date for the final dividend has been fixed as August 14, 2026.

FY26 Profit More Than Doubles

For the full financial year FY26, HPCL’s standalone net profit surged to Rupees 17,175.2 crore from Rupees 7,364.9 crore in FY25, while total income rose to Rupees 4,81,234 crore from Rupees 4,68,762 crore. Domestic sales volumes increased to 48.53 MMT from 47.29 MMT in the previous year, while crude throughput improved to 26.04 MMT.

HPCL crossed Rupees 17,000 crore in annual profit during FY26, reflecting improved refining performance, stronger fuel demand, and better operational efficiency across its businesses.

Disclaimer: This report is based on company filings and is not investment advice.

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