New Delhi: In a significant feat for the Indian oil sector, state-run Indian Oil Corporation on Saturday said its total sales volume, including exports, has crossed 100 million metric tonnes (MMT) for the first time ever.
In a post on X social media platform, the oil major said it a historic milestone for them.
“Our total sales volume, including exports, has crossed 100 MMT for the first time ever — a solid 3 per cent growth. Driven by 1.6 per cent rise in POL, 21 per cent in gas, and 6 per cent in petrochemicals, this marks a new chapter of excellence,” said the company.
In its just-declared quarterly results, the oil giant’s net profit more than doubled on quarter-on-quarter basis to Rs 7,265 crore, compared to Rs 2,874 crore in Q3FY25.
The strong rebound was supported by improved refining margins, inventory gains, and better operational efficiencies.
The oil giant’s Gross Refining Margins (GRMs) or the difference between the total value of petroleum products coming out of a refinery and the price of raw materials, stood at $8 per barrel. Indian Oil had reported GRMs of $2.9 per barrel in the previous quarter.
EBITDA (earnings before interest, tax, depreciation and amortisation) margin for the quarter stood at 7 per cent, higher than the 3.7 per cent registered in the third quarter, reflecting the oil major’s better control over costs and better product mix.
EBITDA nearly doubled on a sequential basis, rising 90 per cent QoQ to Rs 13,572 crore from Rs 7,117 crore in the previous quarter. This translated into a robust improvement in operating profitability.
On the top line, revenue from operations remained steady at Rs 1.95 lakh crore, marginally higher than Rs 1.94 lakh crore in the preceding quarter.
The quarterly performance comes on the heels of IOCL’s continued push in both refining and clean energy.
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