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Informist, Wednesday, Jul. 22, 2026

By Pratyush Kumar

MUMBAI – Hindustan Petroleum Corp. Ltd. reported a net loss of over INR 100 billion for the June quarter, the second time it has reported such a large loss in the past four years. The loss resulted from suppressed marketing margins on sales of petroleum products, the company said. A rise in crude oil prices and in purchases of stock-in-trade resulted in the net loss.

Hindustan Petroleum reported a net loss of INR 115.26 billion for the June quarter, lower than the analysts' estimate for loss of INR 128.43 billion in the June quarter, but the highest since the December quarter of financial year 2014-15 (Apr-Jun), according to data with Informist. The company had made a profit of INR 43.71 billion in the year-ago quarter. 

The company reported net revenue from operations of INR 1.40 trillion for the June quarter, up almost 27% from INR 1.11 trillion a year ago. Analysts had expected a net revenue of INR 1.31 billion. The company paid an excise duty of INR 46.40 billion, down 50% on year from INR 93.68 billion in the year-ago quarter. The company's other income for the June quarter more than doubled to INR 12.81 billion from INR 5.22 billion a year ago.

The company's average gross refining margin in the June quarter was $23.80 per barrel, up from $3.08 per barrel in the year-ago quarter. Hindustan Petroleum's crude throughput fell slightly to 6.52 million tonnes from 6.66 million tonnes in the year-ago quarter.

The company recognised a compensation of INR 19.80 billion from the government in the June quarter for under-recoveries on sale of petroleum products in the financial year 2025-26 (Apr-Mar). Hindustan Petroleum had an outstanding debt of INR 725 billion for the June quarter, up 42% from the year-ago quarter. The company's debt-to-equity ratio rose to 1.52 from 1.01 a year ago. 

Hindustan Petroleum's Visakhapatnam refinery saw a crude throughput of 3.97 million tonnes for the June quarter, operating at 106% of its capacity. The company's Mumbai refinery registered crude throughput of 2.55 million tonnes for the June quarter, operating at 108% of its capacity. The company's total liquefied petroleum gas sales were 1.729 million tonnes and its pipeline throughput was 6.61 million tonnes.

The refining major reported a capital expenditure of INR 17.34 billion for the June quarter. The company said it had 25,160 retail outlets, 54,586 piped natural gas connections, and 6,391 liquefied petroleum gas connections as of Jun. 30.

Hindustan Petroleum commissioned solar projects in Jalgaon and Jhansi in the June quarter. The Jalgaon plant has a capacity of 10.4 megawatt and Jhansi plant has a capacity of 6.5 megawatt. The company had 5,806 electric vehicle charging stations as on Jun. 30. 

Wednesday, the company's shares ended at INR 395.20 on the National Stock Exchange, down nearly 3% from Tuesday before the company detailed its June quarter earnings.  End

US$1 = INR 96.56

Edited by Pankaj Aher

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