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What is the story about?
Shares of state-run oil refiner Hindustan Petroleum Corporation Ltd. gained up to 2% on Wednesday, in response to their March quarter results, and the board also approving the highest dividend payout in five years.
For the March quarter, HPCL reported a net profit of ₹4,901 crore, well above the CNBC-TV18 poll of ₹2,120 crore. On a sequential basis, HPCL's net profit rose 20%.
Revenue for the quarter stood at ₹1.15 lakh crore, the same as the December quarter, and marginally below the CNBC-TV18 poll of ₹1.35 lakh crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter rose 28% from the previous quarter to ₹8,979 crore, while margins expanded by 170 basis points to 7.8% from 6.1% in the previous quarter.
For the full financial year, HPCL's Gross Refining Margin stood at $8.79 a barrel, compared to $5.74 a barrel in financial year 2025. For the fourth quarter, HPCL's GRM stood at $14.5 a barrel, lower than the CNBC-TV18 poll, which had pegged the figure to be between $16 to $18 a barrel.
GRMs is the profit that a refinery makes after converting raw crude oil into finished petroleum products. It is calculated as the difference between the total product value and the cost of raw material.
The board of HPCL has also declared a dividend of ₹19 per share for financial year 2026, which is the highest that the company has paid to its shareholders in the last five years.
By virtue of its 54.9% stake in HPCL, the government will be receiving ₹2,219 crore as dividend payout from the company.
Shares of HPCL are trading 2.1% higher after the results announcement. The stock has risen 8.1% over the last one month.
For the March quarter, HPCL reported a net profit of ₹4,901 crore, well above the CNBC-TV18 poll of ₹2,120 crore. On a sequential basis, HPCL's net profit rose 20%.
Revenue for the quarter stood at ₹1.15 lakh crore, the same as the December quarter, and marginally below the CNBC-TV18 poll of ₹1.35 lakh crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter rose 28% from the previous quarter to ₹8,979 crore, while margins expanded by 170 basis points to 7.8% from 6.1% in the previous quarter.
For the full financial year, HPCL's Gross Refining Margin stood at $8.79 a barrel, compared to $5.74 a barrel in financial year 2025. For the fourth quarter, HPCL's GRM stood at $14.5 a barrel, lower than the CNBC-TV18 poll, which had pegged the figure to be between $16 to $18 a barrel.
GRMs is the profit that a refinery makes after converting raw crude oil into finished petroleum products. It is calculated as the difference between the total product value and the cost of raw material.
HPCL Approves Dividend
The board of HPCL has also declared a dividend of ₹19 per share for financial year 2026, which is the highest that the company has paid to its shareholders in the last five years.
| Period | Dividend By HPCL (₹ Per Share) |
| November 2025 | 6 |
| August 2025 | 10.5 |
| August 2024 | 11 |
| February 2024 | 15 |
| July 2021 | 22.75 |
By virtue of its 54.9% stake in HPCL, the government will be receiving ₹2,219 crore as dividend payout from the company.
Shares of HPCL are trading 2.1% higher after the results announcement. The stock has risen 8.1% over the last one month.
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