Hindustan Petroleum Corporation Limited (HPCL) has announced its financial results for the quarter ended June 30, 2026, highlighting resilient operational performance despite challenges arising from the ongoing geopolitical situation in West Asia. The company continued to deliver strong refining operations, expand its marketing network and invest in infrastructure and clean energy initiatives during the quarter.
HPCL reported revenue from operations of ₹1,45,126 crore in the first quarter of FY27, compared with ₹1,20,135 crore in the corresponding quarter of the previous financial year. The company recorded a Gross Refining Margin (GRM), before export cess, of US$23.80 per barrel against US$3.08 per barrel in the year-ago period.
The company reported a standalone net loss of ₹11,526 crore for the quarter, compared with a profit after tax of ₹4,371 crore in Q1 FY26. On a consolidated basis, HPCL posted a net loss of ₹12,265 crore against a profit after tax of ₹4,111 crore in the corresponding quarter last year.
Operationally, HPCL maintained strong refinery performance. Its refineries processed 6.52 million metric tonnes (MMT) of crude oil during the quarter, operating at 107% of installed capacity. The Visakh Refinery processed 3.97 MMT of crude at 106% capacity utilisation, while the Mumbai Refinery processed 2.55 MMT, operating at 108% capacity. During the quarter, the company also introduced two new grades of crude oil for processing.
Marketing and sales remained stable, with total sales, including exports, reaching 13.12 MMT, representing a marginal year-on-year increase. Combined sales of petrol and diesel grew 8.1% to 8.8 MMT, while LPG sales stood at 1,729 thousand metric tonnes. Pipeline throughput reached 6.61 MMT during the quarter.
HPCL continued to invest in strengthening its business, with capital expenditure of ₹1,734 crore directed towards refining, marketing infrastructure, subsidiaries and joint ventures. A major milestone was achieved with HPCL Rajasthan Refinery Limited (HRRL), where commercial operations commenced on June 22, 2026. The refinery was formally dedicated to the nation by the Prime Minister on July 4, 2026. The company also received in-principle approval from the Gujarat Maritime Board for all-weather operations at the HPLNG Chhara Terminal.
The company’s nationwide network continued to expand. As of June 30, 2026, HPCL operated 25,160 retail outlets and 6,391 LPG distributorships. PNG connections increased to 54,586, while the city gas distribution network expanded through the laying of additional steel and MDPE pipelines.
HPCL also launched several strategic initiatives to improve operational efficiency and customer experience. Building on the success of its Samriddhi 1.0 programme, which generated EBITDA improvements of ₹1,691 crore in FY26, the company has introduced Samriddhi 2.0 with a target of achieving an additional EBITDA improvement of ₹1,500 crore, including ₹1,000 crore during FY27. The HP Green R&D Centre continued to strengthen the company’s innovation portfolio, with a total of 787 patents filed, including 320 patents granted as of June 2026.
In the non-fuel retail business, HPCL entered into partnerships with leading food and retail brands including Burger King, Travel Food Services, Devyani International, FoodMojo, Chai Fast, Araku Coffee, SARAS and Safal. The company also partnered with Petromin to establish 1,000 Quick Vehicle Care Centres across its retail network over the next three years, with 100 centres planned during FY27.
As part of its digital transformation strategy, HPCL is deploying technologies such as Artificial Intelligence, Agentic AI, Industrial IoT, Digital Twins, Robotics, Cloud Platforms and Advanced Analytics to modernise operations across refining, supply chain and marketing. The company also continued to advance its clean energy initiatives. By the end of June 2026, HPCL had established 2,289 CNG outlets, 5,806 EV charging stations and solarised 23,928 retail outlets, representing 95% of its network. During the quarter, new solar power projects with capacities of 10.4 MWp at Jalgaon and 6.5 MWp at Jhansi were commissioned, supporting the company’s long-term sustainability and energy transition goals.
