HPCL Q1 profit soars over 6-fold to Rs 4 111 cr surpasses half of full FY25 earnings

New Delhi, Aug 7 (PTI) Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported an over six-fold jump in its first quarter net profit on the back of inventory gains and a margin surge because of holding retail fuel prices despite a drop in input oil cost.
    Its consolidated net profit of Rs 4,110.93 crore in April-June - the first quarter of the 2025-26 fiscal year - compared to Rs 633.94 crore earnings in the same period of the last year, according to a stock exchange filing by the company.
    The first quarter profit is a record for HPCL and is more than half of the full 2024-25 (April 2024 to March 2025) fiscal year earnings. It had reported a net profit of Rs 6,735.70 crore in FY25.
    Its turnover was almost unchanged at Rs 1.20 lakh crore when compared to Rs 1.21 lakh crore in April-June 2024.
    The company earned USD 3.08 on turning every barrel of crude oil into fuels like petrol and diesel in its refineries in Q1, against a gross refining margin of USD 5.03 per barrel in the same period of the last year.
    The earning boost came from inventory gains - getting a higher price for products made from raw material bought at a lower rate.
    Also, the firm, just like its other state-owned peers, Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Ltd (BPCL), did not revise retail petrol and diesel prices despite a fall in international rates.
    Its pre-tax profit from the downstream petroleum business (basically fuel retailing) surged to Rs 6,144.10 crore in April-June from Rs 907.86 crore last year.
    The profit surge was despite Rs 2,148.03 crore of unpaid LPG subsidy for the quarter.

(This story has not been edited by THE WEEK and is auto-generated from PTI)