Indian Oil Corporation Ltd (IOC.NS) posted consolidated revenue of ₹2.32 trillion and net profit of ₹121.26 billion for the December quarter. The company’s average gross refining margin (GRM) for April–December stood at $8.41 per barrel, reflecting strong operational efficiency and resilience amid global crude price volatility.
Indian Oil Delivers Strong Q3 Earnings Amid Market Volatility
Indian Oil Corporation Ltd, India’s largest refiner and fuel retailer, has reported Q3 consolidated revenue of ₹2.32 trillion and a net profit of ₹121.26 billion, underscoring its robust performance in a challenging global energy environment.
Key Highlights
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Revenue strength: Consolidated revenue from operations reached ₹2.32 trillion, driven by steady demand for petroleum products.
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Profitability: Net profit of ₹121.26 billion highlights improved refining margins and effective cost management.
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GRM performance: Average gross refining margin (GRM) for April–December was $8.41 per barrel, reflecting operational efficiency despite crude price fluctuations.
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Market leadership: IOC continues to dominate India’s downstream energy sector, with strong refining, marketing, and petrochemical operations.
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Sector outlook: Rising consumption and infrastructure growth are expected to support IOC’s earnings trajectory, even as global energy markets remain uncertain.
Why It Matters
IOC’s Q3 results reinforce its critical role in India’s energy security. Strong margins and profitability demonstrate resilience, making IOC a key player for investors tracking India’s energy and infrastructure growth story.
Sources: Reuters, Economic Times, Business Standard