HPCL reported a net profit of ₹3,355 crore, higher than the CNBC-TV18 poll estimate of ₹2,220 crore, and up 11% quarter-on-quarter from ₹3,023 crore. However, revenue came in slightly below estimates at ₹1.09 lakh crore, compared to the expected ₹1.11 lakh crore, marking a 0.5% decline sequentially.
EBITDA stood at ₹5,803.8 crore, also ahead of the poll estimate of ₹4,822 crore, though down 2.8% from the previous quarter’s ₹5,970 crore.
Margins remained healthy at 5.3%, marginally below the 5.4% reported in Q3 but above the Street’s expectations of 4.4%.
Gross Refining Margins (GRMs) were also above the expected $5.46 per barrel at $5.74/bbl, but down from $6.01 in the previous quarter.
Ahead of the results, CNBC-TV18 poll had pointed to a weak quarter for HPCL amid expectations of muted refining and marketing performance.
HPCL board has also recommended a final dividend of ₹10.50 per share for FY25, with the record date set as August 14, 2025.
Factors to monitor in the earnings call include:
Any update on LPG subsidy compensation
Trends in Russian crude sourcing
Premiums on West Asian crude purchases
Commentary on refining and marketing segment outlook
(Edited by : Sheersh Kapoor)
First Published: May 6, 2025 11:34 AM IST
