Indian Oil Posts ₹2,661 Crore Q1 Loss As West Asia Conflict Drives Up Crude Costs; Revenue Jumps 26 Per Cent

New Delhi, July 31, 2026: Indian Oil posted a standalone net loss of Rs 2,661 crore for the first quarter (April-June) of 2026-27, compared with a net profit of Rs 5,689 crore in the corresponding quarter of 2025-26.

The decline in profitability was mainly on account of the rise in crude oil prices due to the West Asia conflict, the impact of which was not passed on to consumers, according to a company statement.

Revenue And Throughput Rise

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

The company also achieved its highest-ever first-quarter refinery crude throughput of 19.165 million metric tonnes (MMT), with 109.4 per cent capacity utilisation, compared with 18.683 MMT in the corresponding quarter of 2025-26, an improvement of 3 per cent.

Indian Oil's cross-country pipelines achieved a combined throughput of 28.548 MMT in the first quarter of 2026-27, compared with 26.256 MMT in the corresponding quarter of 2025-26, marking an increase of 9 per cent, the statement said.

Market Share Improves

IOC also achieved its highest-ever quarterly sales of petrol at 4.522 MMT and diesel at 10.866 MMT. Total sales volume for the first quarter of 2026-27 stood at 26.211 MMT, compared with 26.328 MMT in the corresponding quarter of 2025-26.

The downstream oil major increased its domestic market share by 1.6 percentage points to 43.1 per cent in the first quarter of 2026-27, compared with 41.5 per cent in the corresponding quarter of 2025-26.

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

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Petrochemicals And Lubricants

In the petrochemicals segment, IOC posted a profit of Rs 217 crore, driven by higher 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.

(Disclaimer: Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)

Published on: Friday, July 31, 2026, 11:46 PM IST