Hindustan Petroleum Corporation Ltd (HPCL) reported a robust jump in second-quarter net profit, driven by higher gross refining margins and improved capacity utilization. Management highlighted consistent throughput levels and stable marketing performance despite global oil volatility. According to data, refining spreads averaged above seasonal norms, supporting profitability. Analysts said the results underscore the resilience of Indian refiners amid fluctuating crude benchmarks. HPCL’s performance also benefits from operational efficiencies and strategic inventory management, reflecting steady domestic fuel demand and expanding export-linked product diversification initiatives.