Home / Business and Economy / HPCL Reports Steep Q1 Net Loss Amidst Oil Price Volatility
HPCL Reports Steep Q1 Net Loss Amidst Oil Price Volatility
22 Jul
Summary
- HPCL recorded a net loss of Rs 11,526 crore in Q1 FY27.
- Revenue surged 17.4% to Rs 1.40 lakh crore despite the loss.
- Average gross refining margin improved to $23.8 per barrel.
Hindustan Petroleum Corporation Ltd. (HPCL) announced a consolidated net loss of Rs 11,526 crore for the first quarter of FY27. This financial downturn was primarily attributed to fluctuations in crude oil prices, which adversely affected the company's earnings. The reported loss was, however, lower than the anticipated Rs 12,296 crore estimated by analysts.
Despite the net loss, HPCL's revenue from operations demonstrated robust growth, increasing by 17.4% to Rs 1.40 lakh crore compared to the previous quarter. The company also registered an Ebitda loss of Rs 16,141 crore for the June quarter. A key positive indicator was the significant improvement in the average gross refining margin (GRM), which rose to $23.8 per barrel from $3.08 per barrel year-on-year.
