Hindustan Petroleum Corporation Limited (HPCL) announced its financial results for the quarter and nine months ended December 31, 2025, delivering a strong performance backed by robust refining operations and steady marketing growth. The company recorded a substantial rise in profitability, with standalone profit after tax for the nine-month period surging to ₹12,274 crore, while consolidated profit after tax stood at ₹11,982 crore. For the third quarter alone, profit after tax increased significantly on a year-on-year basis.
Operational strength remained a key driver, with refinery throughput during the nine-month period reaching an all-time high of 19.61 million metric tonnes, reflecting a notable improvement over the previous year. Marketing operations also showed resilience, with overall sales volumes rising to 38.45 million metric tonnes, supported by growth across petrol, diesel and LPG segments.
Gross refining margins strengthened during the quarter, underscoring improved refinery economics and operational efficiency. HPCL also continued to lower its leverage, reflected in a further improvement in the standalone debt-equity ratio.
A major milestone during the period was the commissioning of the Residue Upgradation Facility at the Visakh Refinery. This hydrogen-based residue hydrocracking unit, the first of its kind in the country, enables conversion of nearly all bottom-of-the-barrel residues into high-value distillates. The facility enhances the refinery’s ability to process heavier crudes while significantly improving complexity and product recovery.
HPCL sustained momentum in capital investments, directing funds towards expanding refining and marketing infrastructure, strengthening subsidiaries and joint ventures, and improving efficiency across operations. Progress at the Rajasthan Refinery crossed the advanced stages of completion, while aviation fuelling operations commenced at the Navi Mumbai International Airport.
Network expansion continued with the addition of new retail outlets, LPG distributors and city gas distribution infrastructure. The company also advanced digital and customer-focused initiatives, recorded strong gains under its EBITDA improvement programme, and expanded adoption of its loyalty and payments platform.
On the sustainability front, HPCL made measurable progress in renewable energy adoption, solarisation of retail outlets and alternative fuel initiatives, including trials for sustainable aviation fuel. During the quarter, the company received multiple national and international recognitions across digital transformation, safety, innovation, and employee wellbeing, reflecting its broad-based performance and strategic focus.
Hindustan Petroleum Corporation Limited (HPCL) is one of India’s leading public sector oil marketing companies, with a strong presence across refining, marketing and distribution of petroleum products. The company operates major refineries at Mumbai and Visakhapatnam, supported by an extensive nationwide network of retail outlets, LPG distributors, pipelines and terminals. HPCL plays a vital role in meeting India’s energy needs through a diversified portfolio that includes fuels, lubricants, LPG, aviation fuel and emerging clean energy solutions. With a continued focus on operational efficiency, infrastructure expansion, digital innovation and sustainability, HPCL is actively advancing energy transition initiatives while strengthening its position as a key contributor to the country’s energy security.
