IOC's Net Profit Skyrockets Amid Refining and Marketing Gains

Indian Oil Corporation (IOC) witnessed a more than four-fold increase in its Q3 net profit due to improved refining and marketing margins. Though the petrochemicals segment lagged, fuel sales surged, complemented by government subsidies for LPG underrecoveries. Revenue and overall financial performance showed significant growth over the nine-month period.

In a striking financial performance, the Indian Oil Corporation (IOC) reported a more than four-fold increase in its net profit for the third quarter, buoyed by gains in refining and marketing margins. This upswing helped counterbalance the continuing weakness in its petrochemicals segment.

The company's standalone net profit soared to Rs 12,125.86 crore during October-December, up from Rs 2,873.53 crore in the same period a year ago. Key drivers included a surge in refining margins, aided by lower crude oil prices, and a 5 percent increase in fuel sales, according to their latest stock exchange filing.

Fuel sales volumes rose from 24.78 to 26.015 million tonnes, and revenues increased to Rs 2.31 lakh crore from Rs 2.16 lakh crore year-on-year. However, the petrochemical business continued to struggle, recording significant losses. For the first nine months of fiscal 2025-2026, IOC's net profit spiked to Rs 25,424.91 crore, revealing robust financial health.

(With inputs from agencies.)