According to latest reports from The Economic Times, Indian Oil Corporation reported a standalone net loss of ₹2,661.37 crore for Q1 FY27, which was significantly better than the expected net loss of ₹20,295 crore as previously anticipated by Bloomberg estimates. The actual loss was also higher than the net profit of ₹5,688.60 crore recorded in the same period last year, highlighting the sharp deterioration in earnings over just one quarter. The state-run oil marketing company announced its Q1 FY27 standalone results on July 31, showing a better-than-expected performance despite challenging market conditions. As per The Economic Times, the company slipped into the red after holding fuel prices low despite rising costs, with the performance coming against the backdrop of elevated international crude prices during the quarter. Chairman and Managing Director A S Sahney noted that most losses were offset against a rise in refinery margins and efficiency gains.
As per The Economic Times, Indian Oil Corporation achieved record highs in crude throughput with 19.165 million tonnes during the quarter, representing the highest-ever first quarter performance. The company also recorded the lowest-ever quarterly fuel losses at 8.04%, down from 8.5% previously, demonstrating significant operational efficiency improvements. Revenue from operations rose 26% to ₹2.75 lakh crore, beating the CNBC-TV18 poll estimate of ₹2.59 lakh crore and compared to ₹2.33 lakh crore in the March quarter. The company's petroleum products segment revenue stood at ₹2.6 lakh crore, marking a 19.82% QoQ increase from ₹2.17 lakh crore in Q4 FY26. Additionally, Indian Oil recorded revenue of ₹9,516.94 crore from the petrochemicals segment, up 18.8% QoQ from ₹8,010.80 crore in the preceding quarter, and revenue from the gas segment advanced 27.28% QoQ to ₹14,481.49 crore during the quarter, contrasting with ₹11,377.27 crore in Q4 FY26.
According to Business Standard, Indian Oil Corporation reported a consolidated net loss of ₹1,630.74 crore for the quarter ended June 2026, compared to a net profit of ₹6,813.71 crore in the corresponding quarter of the previous year. The company's sales rose 38.51% to ₹2,66,407.28 crore in Q1 FY27, up from ₹1,92,340.65 crore in Q1 FY26. However, the operating profit margin (OPM) declined to 1.52% from 6.90% in the previous year, while PBDT fell 73% to ₹3,475.56 crore from ₹12,929.11 crore year-on-year. The company's PBT turned negative at ₹932.59 crore compared to a positive ₹875.04 crore in Q1 FY26, reflecting the challenging operating environment despite strong revenue growth.
Despite supply disruptions triggered by the West Asia crisis, Indian Oil Corporation has secured crude oil supplies until late September, as confirmed by Chairman and Managing Director A S Sahney. According to The Economic Times, the company has successfully tapped alternate sources in West Africa and South America to make up for the deficit from traditional Middle East suppliers. The country's largest oil marketing company currently holds crude oil stocks sufficient for 45-50 days. Russian crude, which IOC started processing after becoming available at discount following Russia's invasion of Ukraine, now makes up about 48% of all crude oil processed by IOC's refineries. The company is also sourcing from countries like Brazil and Venezuela to offset shortfalls from traditional Middle East suppliers. On LPG, which was most disrupted, IOC is buying product from newer geographies and countries such as Algeria and Azerbaijan.
As per The Economic Times, under-recovery on the sale of liquefied petroleum gas (LPG) cylinders stood at ₹29,730 crore as of June 30, with the company recognising three equal monthly instalments totalling ₹3,621.51 crore in Q1FY27 as government compensation for under-recoveries on domestic LPG sales. Under-recovery on LPG cylinders soared to ₹720 per cylinder in June before easing to ₹503 per cylinder in July. The company's operational metrics showed strong performance with refinery throughput at 19.165 million tonnes and capacity utilisation of 109.4%, compared with 18.683 mt in Q1FY26. Indian Oil's cross-country pipelines achieved a combined throughput of 28.548 mt in the quarter, against 26.256 mt in the same period last year.
