By: ICN Bureau
Last updated : November 02, 2026 8:09 pm
Consolidated revenue from operations jumped 29.8% YoY to Rs. 2,68,039.38 crore
State-run Indian Oil Corporation (IOC) recorded an extraordinary 174.7% year-on-year surge in consolidated net profit, reaching Rs. 22,502.62 crore for the second quarter ended 30 September 2026 (Q2 FY27).
India's largest oil marketing company staged a massive financial turnaround during the July–September period. The stellar performance marks a sharp rebound into deep profitability, completely reversing the consolidated net loss of Rs. 1,241.09 crore reported in the preceding first quarter (Q1 FY27).
Consolidated revenue from operations jumped 29.8% year-on-year to Rs. 2,68,039.38 crore, up from Rs. 2,06,447.11 crore in the corresponding quarter last fiscal. On a standalone basis, the company's net profit surged 184% to Rs. 21,630.03 crore. Profits were further supported by Rs. 7,243.02 crore in government compensation recognised for domestic LPG under-recoveries.
Operationally, IndianOil recorded a refinery throughput of 18.108 million metric tonnes (MMT) and a pipeline throughput of 25.348 MMT during the quarter.
For the first half of the financial year (H1 FY27), refineries crude throughput is 37.273 MMT with 105.8% capacity utilisation as compared to 36.292 MMT in H1 25-26 improving by 3%. IndianOil’s cross country pipelines achieved combined throughput of 53.896 MMT in H1 26-27 as compared to 50.343 MMT in H1 25-26 improving by 7%. Total Sales volume for H1 26-27 is 51.439 MMT as compared to 50.590 MMT in H1 25-26, registering a growth of 2%. Revenue from Operations during H1 26-27 is Rs. 5,38,907 crores as compared to Rs. 4,21,600 crores in H1 25-26, registering a growth of 28%.
Net Profit of H1 26-27 is Rs. 18,969 crore, as compared to Rs. 13,299 crore in H1 25-26, increased by Rs. 5,670 crore.
The current quarter’s profitability was largely driven by temporary decline in crude oil prices from mid-June to mid-August and robust margin from petrochemical and gas. However, profitability in upcoming quarters may be adversely impacted by inventory losses due to potential fall in crude oil prices with normalization of situation in Middle East.