Indian Oil Corporation has reported a consolidated net profit of Rs 8,190.86 crore in the second quarter of the financial year 2025-26. Last fiscal year, the public sector company had reported a loss of Rs 448.78 crore in Q2.
On a quarterly basis, Indian Oil reported a 20 per cent YoY net profit growth in the quarter. The company’s net profit in Q1 FY26 stood at Rs 6,808 crore.
Indian Oil has reported a 3.94 per cent YoY revenue growth in the quarter. The company reported a consolidated revenue of Rs 2,06,447 crore from operations in Q2 FY26. In the corresponding quarter of the previous fiscal year, the company reported a consolidated revenue of Rs 1,98,615 crore.
Indian Oil profit margins
Indian Oil, along with its subsidiary Chennai Petroleum, controls approximately one-third of India’s 5 million barrels per day refining capacity. Its average gross refining margin for the September quarter stood at $10.6 per barrel. In the first half of FY26, the company’s margins were $6.32 per barrel, compared to $4.08 per barrel in the same period of the previous fiscal year.
Fuel demand in India, the world’s third-largest oil importer and consumer, decreased in July compared to the same period last year. However, the demand rose in August and September, while the costs of crude oil declined during the quarter.
Indian oil refiners are increasing gasoline and diesel exports to their highest in several years, driven by expanded crude processing capacity and increased domestic ethanol blending that has freed up fuel supplies for overseas markets.