IOC Q2 profit surges multi-fold to Rs 7,610 crore; revenue rises 4% YoY

Indian Oil Corporation Ltd (IOC) on Monday reported a sharp year-on-year (YoY) rise in its standalone net profit for the July–September 2025 quarter (Q2 FY26). The company posted a profit of Rs 7,610.45 crore, compared to Rs 180.01 crore in the same period last year, aided by lower refining margins, steady product sales and under-recoveries on cooking gas.

During the quarter, the state-owned energy major recorded a 4.02 per cent YoY increase in revenue from operations to Rs 2,02,992.34 crore, against Rs 1,95,148.94 crore in the corresponding quarter of the previous year.

The company's adjusted EBITDA, excluding other income, came in at Rs 14,583 crore, marking a operational performance with a margin of around 7.2 per cent.

Total expenses stood at Rs 1,94,450 crore, with cost of materials consumed at Rs 89,939 crore. Finance costs were Rs 2,169 crore, while depreciation and amortisation amounted to Rs 3,871 crore.

IOC's average gross refining margin (GRM) for April–September 2025 was $6.32 per barrel, compared with $4.08 a year earlier. The core GRM, after excluding inventory effects, stood higher at $7.89 per barrel. Domestic product sales during the quarter reached 22.85 million metric tonnes (MMT), while exports were at 1.41 MMT.

The quarterly results were announced post-market hours today. Earlier in the day, IOC shares climbed 3.19 per cent to settle at Rs 155.15.