Indian Oil Corporation Limited (IOCL) has reported a massive increase in its net profit for the third quarter of the financial year 2026. The state-run oil marketing company saw its standalone net profit rise by 322% to reach ₹12,126 crore. This is a significant jump compared to the profit of ₹2,874 crore reported in the same quarter last year. The company’s strong performance comes on the back of better refining margins and increased sales volume across the country.
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Financial Performance and Revenue Details
The consolidated net profit for the quarter stood at ₹13,502 crore, marking a 528% increase year-on-year. The total revenue from operations was reported at ₹2,31,769 crore on a standalone basis. The company also saw its profit before tax (PBT) surge to ₹15,992 crore, showing a growth of 361%.
The Earnings Per Share (EPS) for the third quarter came in at ₹8.81. This financial growth reflects the stability in the oil market and efficient operations by the Maharatna PSU. The board of directors approved these results after a review by the audit committee.
Operational Metrics and Refining Margins
A key factor in this profit jump was the Gross Refining Margin (GRM). For the period of April to December 2025, the GRM improved significantly. The company earned $8.41 on turning every barrel of crude oil into fuel, which is much higher than the $3.69 per barrel margin seen last year.
Domestic sales also showed healthy growth, rising to 26.015 Million Metric Tonnes (MMT). The refineries processed more crude oil this quarter to meet the demand. Additionally, the company recognized ₹2,414.34 crore as compensation from the government for LPG under-recoveries.
| Metric | Value |
|---|---|
| Net Profit (Standalone) | ₹12,126 Crore |
| Gross Refining Margin | $8.41 per barrel |
| Refinery Throughput | 19.427 MMT |
| Pipeline Throughput | 27.557 MMT |
