Indian Oil Corporation Ltd (IndianOil) delivered a record operational performance in the first quarter of FY 2026-27, achieving its highest-ever Q1 crude throughput, pipeline throughput, and fuel sales.
However, a sharp rise in crude oil costs triggered by the West Asia conflict pushed the company into a net loss during the quarter.
IndianOil processed 19.165 million metric tonnes (MMT) of crude oil in Q1 FY 2026-27, marking its highest-ever quarterly Q1 crude throughput, with refinery capacity utilisation reaching 109.4%. This was an improvement over the 18.683 MMT processed in the corresponding quarter last year.
The company’s cross-country pipelines also recorded their best-ever quarterly performance, handling 28.548 MMT in Q1 FY 2026-27, up 9% from 26.256 MMT in Q1 FY 2025-26.
IndianOil reported its highest-ever quarterly sales of Motor Spirit (MS) at 4.522 MMT and High-Speed Diesel (HSD) at 10.866 MMT. The company’s domestic market share increased to 43.1% in Q1 FY 2026-27, compared with 41.5% in Q1 FY 2025-26, marking a rise of 1.6%.
The company also recorded an 11% increase in natural gas sales volume, rising to 1.873 MMT in Q1 FY 2026-27 from 1.685 MMT in the same period last year.
IndianOil launched a new range of premium lubricants during the quarter, including SERVO Hypersport for motorcycles, SERVO Hyperdrive for four-wheelers, and SERVO Hypertorq for commercial vehicles.
Despite strong operational gains, financial performance was impacted by higher crude oil costs. IndianOil’s Revenue from Operations rose 26% to Rs. 2,75,972 crore in Q1 FY 2026-27, compared with Rs. 2,18,608 crore in Q1 FY 2025-26.
The company reported a net loss of Rs. 2,661 crore for Q1 FY 2026-27, compared with a net profit of Rs. 5,689 crore in the same quarter last year. IndianOil attributed the decline in profitability primarily to increased crude costs resulting from the West Asia conflict.
IndianOil’s total sales volume during Q1 FY 2026-27 stood at 26.211 MMT, compared with 26.328 MMT in Q1 FY 2025-26.
