Indian Oil slips into ₹2,661 crore Q1 loss as West Asia crisis drives up crude costs

Indian Oil piled up a standalone net loss of ₹2,661 crore for the first quarter (April-June) of 2026-27, as compared to a net profit of ₹5,689 crore in Q1 2025-26, with the decrease in profitability mainly on account of rise in crude cost due to the West Asia conflict which was not passed on to consumers, according to a company statement.

Indian Oil’s revenue from operations during the first quarter of the current financial year registered a robust growth of 26 per cent to ₹2,75,972 crore as compared to ₹2,18,608 crore in the same quarter of the previous financial year.

The company also achieved its highest-ever Q1 refineries crude throughput of 19.165 million metric tonnes (MMT) with 109.4 per cent capacity utilisation as compared to 18.683 MMT in Q1 25-26, improving by 3 per cent. Indian Oil's cross-country pipelines achieved combined throughput of 28.548 MMT in Q1 26-27 as compared to 26.256 MMT in Q1 25-26, improving by 9 per cent, the statement said.

IOC also achieved its highest-ever quarterly sales of petrol at 4.522 MMT and diesel at 10.866 MMT. Total sales volume for Q1 26-27 was 26.211 MMT as compared to 26.328 MMT in Q1 25-26.

The downstream oil giant increased its domestic market share by 1.6 per cent to 43.1 per cent in Q1 26-27 compared with 41.5 per cent in Q1 25-26.

The natural gas sales volume went up to 1.873 MMT, which is 11 per cent higher than the corresponding figure of 1.685 MMT for the same quarter of the previous year.

In the petrochemicals segment, IOC posted a profit of ₹217 crore on the back of an increase in sales of LAB, BA, PTA, and butadiene.

IOC also launched a new series of premium lubricants SERVO Hypersport for motorcycles, SERVO Hyperdrive for four-wheelers, and SERVO Hypertorq for commercial vehicles during the first quarter, the company statement added.

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