IOC Reports Surging Profits on Strong Refining Margins

Indian Oil Corporation Ltd (IOC) has announced impressive financial results for the September quarter, showcasing a substantial leap in net profit attributed primarily to enhanced refining margins and operational efficiencies.

The state-owned enterprise's standalone net profit surged to Rs 7,610 crore for the quarter, a sharp increase from Rs 180 crore recorded in the same period last year, as detailed by company chairman Arvinder Singh Sahney.

Among the factors driving the profit growth was an increase in crude oil processing by 5 percent, as well as a 6 percent rise in fuel sales. Additionally, the company experienced marginal inventory gains, contrasting with the significant inventory loss in the corresponding period of 2024.