Hindustan Petroleum Corporation Limited (HPCL) reported revenue from operations of ₹1,39,140 crore for the second quarter of FY2027, compared with ₹1,10,323 crore in the corresponding quarter last year. Its gross refining margin (GRM) before export cess increased to US$32.15 per barrel from US$8.80 per barrel in Q2 FY2026.
HPCL recorded standalone profit after tax of ₹3,483 crore during the quarter, against ₹3,830 crore a year earlier. Consolidated profit after tax stood at ₹3,625 crore, compared with ₹3,859 crore in Q2 FY2026. For the first half of FY2027, revenue from operations increased to ₹2,84,267 crore from ₹2,30,458 crore. GRM before export cess reached US$27.89 per barrel, compared with US$5.95 per barrel in the corresponding period last year. However, HPCL reported a standalone net loss of ₹8,044 crore for H1 FY2027, against a profit of ₹8,201 crore a year earlier. Consolidated net loss stood at ₹8,639 crore, compared with a profit of ₹7,970 crore.
The results came amid continued disruption from the West Asia crisis. HPCL said its refining and marketing divisions delivered operational performance during the period. The refineries processed 6.20 million tonnes of crude oil in Q2 FY2027, operating at 100% of capacity. Visakh Refinery processed 3.60 million tonnes at 95% capacity, while Mumbai Refinery processed 2.60 million tonnes at 109% capacity. H1 crude throughput reached 12.72 million tonnes, equivalent to 104% of capacity.
Sales, including exports, rose 5.5% year-on-year to 12.73 million tonnes in the quarter. Combined petrol and diesel sales increased 10% to 7.78 million tonnes, while LPG sales reached 2.03 million tonnes. Half-year sales rose 2.9% to 25.85 million tonnes. HPCL invested ₹2,085 crore in capital expenditure during Q2, taking H1 expenditure to ₹3,819 crore. The company mechanically completed a 201-km LPG pipeline between Haldia and Panagarh in West Bengal, which entered pre-commissioning. It also commissioned an open-access fuel farm at Bhogapuram Airport.
During the quarter, HPCL commissioned India’s first refinery blue hydrogen unit at Visakh Refinery, using patented Higas technology and HP Novel Amine. Its research centre had filed 800 patents by September 30, 2026, of which 339 had been granted. HPCL also launched the 10-kg HP Navya composite LPG cylinder and partnered with Swiggy Instamart to distribute it through quick-commerce channels. The company reported 25,245 retail outlets, 6,394 LPG distributors and 77,984 PNG connections at the end of September.
Its energy transition network included 2,296 CNG outlets, 5,880 EV charging stations and 24,172 solar-powered retail outlets, representing 96% of its retail network. HP Renewable & Green Energy Limited also secured approvals and project awards for compressed biogas and solar initiatives.
Hindustan Petroleum Corporation Limited is an Indian oil and gas company operating in refining, fuel marketing, pipelines, LPG distribution and related energy businesses. It is also expanding into renewable energy, electric vehicle charging, hydrogen and compressed biogas.
