Mumbai: Hindustan Petroleum Corporation Ltd (HPCL) reported a 192 percent year-on-year rise in consolidated net profit to Rs 5,156.6 crore in Q3 FY26, despite a marginal dip in revenue from operations
to Rs 1,14,205.9 crore. Compared to Rs 5,382.8 crore profit in Q2 and Rs 5,269.9 crore in Q1, the company's profitability remains robust, even as sequential topline performance remained steady.
Profit surges despite muted revenue growth
In Q3 FY26, HPCL posted a consolidated net profit of Rs 5,156.6 crore, up sharply from Rs 1,764.3 crore in the same quarter last year. Revenue from operations dipped slightly to Rs 1,14,205.9 crore from Rs 1,16,104.6 crore in Q3 FY25. Sequentially, revenue remained broadly flat from Rs 1,14,675 crore in Q2 FY26, while profit saw a marginal 4.2 percent decline from the preceding quarter. The decline in expenses by 4.4 percent YoY helped sustain bottom-line strength.
Sequential growth moderates amid stable cost base
On a quarter-on-quarter basis, total income dipped 0.8 percent to Rs 1,16,350.4 crore, while total expenses declined to Rs 1,08,110.4 crore from Rs 1,08,956.6 crore. The operating environment remained stable, with gross refining margins and efficiency metrics holding firm. Basic and diluted EPS moderated slightly to Rs 15.17 from Rs 15.82 in Q2. Tax expense stood at Rs 2,059.6 crore, aligned with a consistent effective rate of ~28 percent.
Drivers and operational performance remain steady
Though there was no specific management commentary in the filing, the strong YoY jump in profit is attributable to improved product spreads, efficient cost controls, and favorable inventory movement. The company’s performance in refining and marketing remained healthy. EPS nearly tripled YoY to Rs 15.17, from Rs 5.19 in Q3 FY25. No dividend or buyback announcements were made in this quarter’s update.
Nine-month trajectory reinforces turnaround
For the nine-month period ended December 2025, HPCL reported a net profit of Rs 15,809.3 crore, more than doubling from Rs 6,766.2 crore in the corresponding period last year. Revenue from operations reached Rs 3,45,578.9 crore, up 1.6 percent YoY. EPS for 9M FY26 surged to Rs 46.81 from Rs 20.04. The cumulative performance reflects HPCL’s resilient positioning in a dynamic energy market.
Disclaimer: This article is based on the company’s regulatory filing for Q3 FY26. It is for informational purposes only and does not constitute investment advice or a recommendation.
