Indian Oil Corporation's Q2 2025 results reflect robust performance, reporting an average Gross Refining Margin (GRM) of $6.32 per barrel for April-September, revenues of ₹2.03 trillion from operations, and a net profit of ₹76.10 billion, underscoring operational strength amid sector challenges.
Indian Oil Corporation Q2 2025 Financial Highlights
Indian Oil Corporation (IOC) announced strong financial results for the second quarter ending September 30, 2025, driven by healthy refining margins and improved operational efficiency. The company reported an average GRM of $6.32 per barrel for the first half of the fiscal year, reflecting significant improvement in profitability from its refining segment.
Total revenue from operations stood at ₹2.03 trillion, cementing IOC's position as India's largest oil refining and marketing company with considerable scale and market reach. Net profit for the quarter surged to ₹76.10 billion, showcasing resilient earnings momentum even in a volatile macroeconomic and oil price environment.
These results come against a backdrop of strategic efforts to optimize refining throughput, manage cost pressures, and tap opportunities in domestic fuel demand. The company continues to benefit from better refining cracks, lower inventory losses, and government compensation adjustments.
Important Points:
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Average GRM for April-September 2025 was robust at $6.32 per barrel, a key indicator of refining profitability.
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Revenue from operations reached ₹2.03 trillion, reflecting steady business scale and market leadership.
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Net profit recorded a strong ₹76.10 billion, highlighting significant growth in earnings.
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Improved refining efficiency combined with effective cost management supported profitability.
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Government subsidies and market dynamics, including better diesel crack spreads, favored financial outcomes.
These results reinforce IOC’s stable outlook amidst ongoing sectoral challenges.
Source: Indian Oil Corporation official disclosures, CNBC TV18, Economic Times