State-run Indian Oil Corporation (IOC) has reached a historic milestone, announcing that its total sales volume, including exports, has exceeded 100 million metric tonnes (MMT) for the first time. The company reported a 3% growth, driven by increases in petroleum products (1.6%), gas (21%), and petrochemicals (6%).
In its latest quarterly results, IOC’s net profit more than doubled, rising to Rs 7,265 crore, compared to Rs 2,874 crore in Q3FY25. The surge was supported by improved refining margins, inventory gains, and enhanced operational efficiencies.
The company’s Gross Refining Margins (GRMs) stood at $8 per barrel, a significant improvement from $2.9 per barrel in the previous quarter. Additionally, EBITDA margins increased to 7%, reflecting better cost control and an optimized product mix.
IOC’s EBITDA nearly doubled, growing 90% quarter-on-quarter to Rs 13,572 crore, translating into strong operating profitability. Meanwhile, revenue from operations remained steady at Rs 1.95 lakh crore, slightly higher than the Rs 1.94 lakh crore recorded in the previous quarter.
This achievement underscores IOC’s continued expansion in refining and clean energy, reinforcing its position as a key player in India’s energy sector.