IOC’s Q4 Net Rises 50% To Rs 7,265 Cr

The firm earned $7.85 on turning every barrel of crude oil into fuel in the quarter as compared to $8.39/bbl gross refining margins a year back - AS Sahney, chairman, IOC

New Delhi: Indian Oil Corporation (IOC) on Wednesday reported a 50 per cent jump in its March quarter net profit as inventory gains negated losses on sale of subsidised domestic cooking gas LPG.

Standalone net profit of Rs7,264.85 crore in January-March - the fourth quarter of April 2024 to March 2025 financial year - was compared to Rs4,837.69 crore earnings in the same period a year back, according to a stock exchange filing of the company.

Profit was also higher quarter-on-quarter when compared to Rs2,873.534 crore earnings in the October-December 2024 period. The earnings soared as the company processed crude oil bought at lower prices and sold products made from it when prices had risen, resulting in inventory gains. These inventory gains undid Rs5,601 crore of losses on LPG sales and lower refining margins. The firm earned $7.85 on turning every barrel of crude oil into fuel in the quarter as compared to $8.39 per barrel gross refining margins a year back, IOC chairman AS Sahney said in a post-earnings media briefing.