$HINDPETRO Corporation Ltd (HPCL) reported a sharp decline in its standalone financial performance for the first quarter of the financial year. The state-owned oil marketing company posted a net loss of Rs 11,526.41 crore for the quarter ended June 30, 2026, wiping out more than two-thirds of its profit for the previous financial year, as it sold petrol, diesel and LPG below cost despite a sharp rise in input prices following the West Asia crisis. The profit stood at Rs 4,371 crore in the corresponding quarter last year. On a sequential basis, profit also plunged from Rs 4,902 crore reported in the January-March quarter and Rs 4,575.87 crore earned in April-June 2025. Revenue from operations rose 27 per cent year-on-year to Rs 1.40 lakh crore in Q1 FY27, compared with Rs 1.10 lakh crore posted in Q1 FY26. Revenue was also 22 per cent higher than Rs 1.14 lakh crore recorded in the previous quarter.

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