Copyright thehindubusinessline
State-run Indian Oil Corporation (IoCL) reported a consolidated net profit of around ₹8,191 crore in Q2 FY26 against a net loss of ₹449 crore a year-ago aided by better refinery margins, inventory gains and cost optimisation. The country’s largest oil marketing company’s (OMC) consolidated total income during the September quarter in the current fiscal year stood at around ₹2.07 lakh crore compared to ₹2.22 lakh crore in Q1 FY26 and ₹1.99 lakh crore in Q2 FY25. IoCL’s consolidated total expenses during Q2 FY26 were lower at ₹1.97 lakh crore compared to ₹2.15 lakh crore in Q1 FY26 and ₹2.02 lakh crore in Q2 FY25. This is largely attributed to the company’s SPRINT programmes which aims to enhance operational efficiency among other steps to prepare the company for the future. IoCL’s average Gross Refining Margin’s (GRM) in H1 FY26 stood at $6.32 per barrel against $4.08 a year-ago. Its core GRM or the current price GRM for H1 FY6 after offsetting inventory loss/ gain stood at $7.89 per barrel compared to $2.97 a year-ago. During Q2 FY26, IoCL’s average GRMs stood at around $10.6 per barrel (Q2 FY25: $1.56 per barrel), which is the company’s first double digit GRM in around six quarters. The company also reported inventory gains in around four quarters. IndianOil reported its highest ever April-September sales at 50.49 million tonnes (mt) during H1 FY26 compared to 48.21 mt a year-ago. Refinery throughput for H1FY26 is 36.292 mt with 103 per cent capacity utilisation as compared to 34.906 mt in H1FY25 improving by 4 per cent Y-o-Y. Indian Oil’s cross country pipelines achieved throughput of 50.343 mt in H1 FY26 as compared to 49.796 mt in H1 FY25 improving by 1 per cent Y-o-Y. During Q2 FY26, IoCL’s refinery throughput rose 5 per cent Y-o-Y to 17.609 mt against 16.738 mt a year-ago. Its pipeline throughput was up by 0.4 per cent Y-o-Y to 24.087 mt compared to 23.985 mt a year-ago. Published on October 27, 2025
