Indian Oil Q1 profit doubles to ₹5,689 cr on stronger refining margins

Indian Oil's Q1 FY26 profit rose to ₹5,689 cr from ₹2,643 cr on higher refining and marketing margins, despite inventory losses, with revenue up 1.2% to ₹2.19 trillion

The gross refining margin (GRM) for the first quarter stood at $2.15 per barrel, compared with $6.39 per barrel in the same quarter of the previous financial year. | Illustration: Ajay Mohanty

BS Reporter New Delhi

1 min read Last Updated : Aug 14 2025 | 6:10 PM IST

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Indian Oil Corporation Ltd (IOC), the country’s largest refiner, today reported that its net profit for the quarter ended June 2025 more than doubled to ₹5,689 crore, compared with ₹2,643 crore in the corresponding quarter of the previous financial year.

The company said the improvement in net profit was mainly on account of higher refining and marketing margins, partly offset by inventory losses in Q1 FY26, compared with inventory gains in Q1 FY25.

Indian Oil’s revenue from operations during the June 2025 quarter rose 1.2 per cent to ₹2,18,608 crore, against ₹2,15,989 crore in the same quarter last year.

“Refineries throughput for Q1 FY26 is 18.6 MMT with 107 per cent capacity utilisation, compared with 18.1 MMT in Q1 FY25,” the company said in a statement. The gross refining margin (GRM) for the first quarter stood at $2.15 per barrel, compared with $6.39 per barrel in the same quarter of the previous financial year.