HPCL Posts ₹38B Profit in Q2, Declares Dividend Amid Strong Refining Margins

HPCL delivered a solid financial performance for the July–September 2025 quarter, with net profit rising to ₹3,830 crore, driven by improved refining margins and operational efficiency. The company’s average Gross Refining Margin (GRM) for the April–September period stood at $8.80 per barrel, significantly higher than the $3.12 per barrel reported last year. Revenue from operations reached ₹1.01 trillion, although it marked a 9% decline quarter-on-quarter due to seasonal factors and marketing segment softness.

The Board of Directors declared an interim dividend of ₹5 per share (50% of face value), with the record date set for November 6, 2025. HPCL’s EBITDA came in at ₹6,891 crore, ahead of market expectations, and operating margins held steady at 6.8%. The company continues to focus on expanding its refining capacity and strengthening its retail network across India.

Key highlights and major takeaways

• Net profit: ₹3,830 crore in Q2 FY26  
• Average GRM (Apr–Sept): $8.80 per barrel  
• Revenue from operations: ₹1.01 trillion  
• Interim dividend: ₹5 per share; record date November 6, 2025  
• EBITDA: ₹6,891 crore; operating margin at 6.8%  
• Strategic focus: Refining expansion and retail growth  

Sources: CNBC TV18, NDTV Profit, The Hindu Business Line, Livemint