Indian Oil Corporation (IOC) reported a robust 33.8% sequential increase in standalone net profit for Q2 FY26, reaching ₹7,610.5 crore compared to ₹5,689 crore in the previous quarter. The strong bottom-line growth came despite a 7.3% decline in revenue, which fell to ₹1.79 lakh crore from ₹1.93 lakh crore, reflecting lower crude prices and softer refining margins.

Operating income (EBITDA) rose 15.7% quarter-on-quarter to ₹14,583 crore, with the EBITDA margin expanding significantly to 8.2% from 6.5%. The improvement in profitability was driven by better refining margins, inventory gains, and operational efficiencies, even as income from petrochemicals and petroleum segments declined. In contrast, the gas segment recorded higher revenue, providing a partial offset.

Segment-wise, IOC faced headwinds in petrochemicals and core petroleum products due to subdued demand and pricing pressures. However, strong performance in marketing operations and cost optimization helped bolster overall margins. The company maintained stable throughput at its refineries while benefiting from favorable crude oil dynamics.

Also Read: US Tariffs Deal Heavy Blow: India’s Leather Exports Face 12% Revenue Drop This Year

IOC shares closed 3.19% higher at ₹155.15 on Monday, extending a 2.63% gain over the past month and an 8.84% rise in the last six months. Despite a 1.72% decline over the past year, the stock has gained 9.92% year-to-date, reflecting investor confidence in the company’s resilient business model amid volatile energy markets.

With refining capacity utilization near optimal levels and a strategic focus on clean energy and retail expansion, Indian Oil continues to strengthen its position as India’s leading integrated energy major.

Also Read: DMart Revenue Soars 15.5% in Q2; Profit Climbs 4% as Store Count Hits 432