New Delhi– Indian Oil Corp. reported a standalone net loss of Rs 2,661 crore for the first quarter of fiscal 2026-27, reversing a net profit of Rs 5,689 crore in the same period a year earlier.
The state-owned oil company attributed the decline primarily to higher crude oil costs caused by the conflict in West Asia. Those additional costs were not passed on to consumers, putting pressure on profitability.
Revenue from operations rose 26% to Rs 2,75,972 crore during the April-June quarter, compared with Rs 2,18,608 crore in the corresponding period of the previous fiscal year.
Indian Oil recorded its highest-ever first-quarter refinery crude throughput at 19.165 million metric tons, up 3% from 18.683 million metric tons a year earlier. Refinery capacity utilization stood at 109.4%.
The company’s cross-country pipelines handled a combined throughput of 28.548 million metric tons during the quarter, an increase of 9% from 26.256 million metric tons in the year-ago period.
Indian Oil also reported record quarterly sales of gasoline and diesel. Gasoline sales reached 4.522 million metric tons, while diesel sales totaled 10.866 million metric tons.
Overall sales volume stood at 26.211 million metric tons, slightly below the 26.328 million metric tons reported in the same quarter last year.
The company increased its share of the domestic market to 43.1% from 41.5% a year earlier, a gain of 1.6 percentage points.
Natural gas sales rose 11% to 1.873 million metric tons, compared with 1.685 million metric tons in the first quarter of fiscal 2025-26.
Indian Oil’s petrochemicals business posted a profit of Rs 217 crore, supported by higher sales of linear alkylbenzene, butyl acrylate, purified terephthalic acid and butadiene.
During the quarter, the company also introduced three premium lubricant lines: SERVO Hypersport for motorcycles, SERVO Hyperdrive for passenger vehicles and SERVO Hypertorq for commercial vehicles. (Source: IANS)
