{"id":171885,"date":"2025-10-28T03:58:18","date_gmt":"2025-10-28T07:58:18","guid":{"rendered":"https:\/\/44.250.171.167\/?p=171885"},"modified":"2025-10-28T03:58:18","modified_gmt":"2025-10-28T07:58:18","slug":"indian-oil-corporation-q2-fy26-earnings-results","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/indian-oil-corporation-q2-fy26-earnings-results\/","title":{"rendered":"Indian Oil Corporation Q2 FY26 Earnings Results"},"content":{"rendered":"<p>Indian Oil Corporation Ltd (IOC), a Maharatna company controlled by the Government of India, leads the country&#8217;s oil refining and petroleum marketing sector and operates across the entire hydrocarbon value chain.<\/p>\n<h2><strong>Q2 FY26 Financial Summary<\/strong><\/h2>\n<ul>\n<li>Revenue grew 2.09% year on year to \u20b91,78,628 crore, up from \u20b91,74,976 crore, supported by stronger demand and refining.<\/li>\n<li>Total expenses dropped 5.19% to \u20b91,68,880 crore, compared to \u20b91,78,120 crore last year, reflecting cost efficiencies and lower crude prices.<\/li>\n<li>Consolidated net <a href=\"https:\/\/www.bseindia.com\/xml-data\/corpfiling\/AttachLive\/ffe81396-37e4-41ca-a0d4-512640bf3c22.pdf\" target=\"_blank\" rel=\"noopener\">profit<\/a> came in at \u20b98,191 crore, a strong turnaround from a loss of \u20b9449 crore in the same period last year.<\/li>\n<li>Earnings per share (EPS) improved sharply to \u20b95.54 from -\u20b90.12 year on year.<\/li>\n<\/ul>\n<h2><strong>Operational and Business Highlights<\/strong><\/h2>\n<ul>\n<li>Robust profit growth was primarily driven by higher gross refining margins (GRM) as international crude oil prices declined. IOC earned $19.6 per barrel in Q2, compared to $2.15 in Q1 and $1.59 in Q2 last year.<\/li>\n<li>Average GRM for April\u2013September 2025 rose to $6.32 per barrel from $4.08 a year earlier, with the September-quarter margin at $10.6 per barrel.<\/li>\n<li>The company processed 17.609 million metric tons (MMT) of crude oil during Q2 FY26, up from 16.738 MMT last year.<\/li>\n<li>Expenses declined due to operational efficiencies and reduced input costs, enhancing profitability.<\/li>\n<li>Marketing volumes grew 5% year on year, outpacing the industry average. Capital expenditure of \u20b91.8 billion supported expansion and technology upgrades.<\/li>\n<\/ul>\n<h2><strong>Financial Position and Outlook<\/strong><\/h2>\n<ul>\n<li>Brokerages are generally positive about IOC\u2019s earnings visibility, with Morgan Stanley maintaining an &#8216;Overweight&#8217; rating and a target price of \u20b9168 per share.<\/li>\n<li>JM Financial expects strong earnings growth over FY27\u201328, led by upcoming refining capacity additions, but expects margins to normalize over time with policy measures.<\/li>\n<li>IOC continues to benefit from integrated refining-marketing operations and sourcing flexibility, even with lower Russian crude intake.<\/li>\n<li>The Ministry of Petroleum and Natural Gas has approved compensation for LPG under-recoveries to be recognized from Q3.<\/li>\n<\/ul>\n<p>IOC\u2019s strong Q2 FY26 results mark a sharp turnaround from losses last year, driven by efficiency gains, margin expansion, and robust operational performance, positioning the company for sustained growth in the coming quarters.<\/p>\n<p>Explore the company\u2019s past earnings and latest concall transcripts, <a href=\"https:\/\/44.250.171.167\/symbol\/ioc\/\">click here<\/a> to visit the AlphaStreet India News Channel.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-171886\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/IO.png\" alt=\"Q2 FY26\" width=\"1489\" height=\"1817\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/IO.png 1489w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/IO-246x300.png 246w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/IO-839x1024.png 839w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/IO-768x937.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/IO-1259x1536.png 1259w\" sizes=\"auto, (max-width: 1489px) 100vw, 1489px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Oil Corporation Ltd (IOC), a Maharatna company controlled by the Government of India, leads the country&#8217;s oil refining and petroleum marketing sector and operates across the entire hydrocarbon value chain. Q2 FY26 Financial Summary Revenue grew 2.09% year on year to \u20b91,78,628 crore, up from \u20b91,74,976 crore, supported by stronger demand and refining. Total [&hellip;]<\/p>\n","protected":false},"author":1932,"featured_media":171886,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,392],"tags":[9954],"class_list":["post-171885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-earnings","tag-petroleum"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/IO.png","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":171990,"url":"https:\/\/alphastreet.com\/india\/hindustan-petroleum-q2-fy26-earnings-results\/","url_meta":{"origin":171885,"position":0},"title":"Hindustan Petroleum\u00a0Q2 FY26 Earnings Results","author":"Divyansh_Kasana","date":"October 31, 2025","format":false,"excerpt":"Hindustan Petroleum Corporation Ltd (HPCL), a key oil refining and marketing company in India, posted a spectacular profit increase in Q2 FY26 despite modest revenue growth. Financial Snapshot (Q2 FY26): Revenues rose marginally by 0.9% to \u20b91,00,856 crore from \u20b999,957 crore last year. Total expenses declined 3.69% to \u20b996,439 crore\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Q2 FY26","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/hind.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/hind.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/hind.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/hind.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/hind.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/hind.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171894,"url":"https:\/\/alphastreet.com\/india\/chennai-petroleum-q2-fy26-earnings-results\/","url_meta":{"origin":171885,"position":1},"title":"Chennai Petroleum\u00a0Q2 FY26 Earnings Results","author":"Divyansh_Kasana","date":"October 28, 2025","format":false,"excerpt":"Chennai Petroleum Corporation Limited (CPCL) is a leading Indian oil refining company engaged in producing various petroleum products and manufacturing lubricating oil additives. Financial Summary for Q2 FY26: Revenues rose 35.09% year on year to \u20b916,327 crore from \u20b912,086 crore, driven by improved operational activity and higher crude throughput. Total\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Q2 FY26","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/CHE.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/CHE.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/CHE.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/CHE.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/CHE.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/CHE.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":170189,"url":"https:\/\/alphastreet.com\/india\/indian-oil-corporation-q1-fy26-earnings-results\/","url_meta":{"origin":171885,"position":2},"title":"IOCL Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"August 14, 2025","format":false,"excerpt":"Indian Oil Corporation Limited (IOCL), a Maharatna company under the Government of India, operates across the entire hydrocarbon value chain, including refining, pipeline transportation, petroleum product marketing, research and development, exploration and production, natural gas marketing, and petrochemicals. It holds a leadership position in India\u2019s oil refining and petroleum marketing\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"IOC Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/co.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/co.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/co.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/co.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/co.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/co.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":170430,"url":"https:\/\/alphastreet.com\/india\/hpcl-q1-fy26-earnings-results\/","url_meta":{"origin":171885,"position":3},"title":"HPCL Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"August 21, 2025","format":false,"excerpt":"Hindustan Petroleum Corporation Ltd (HPCL) is a major Indian company engaged in refining crude oil, marketing petroleum products, producing hydrocarbons, and providing services for management of E&P (Exploration & Production) Blocks. Presenting below are its Q1 FY26 Earnings Results. Q1 FY26 Earnings Results Revenue: \u20b91,10,825 crore, down 2.69% year-on-year (YoY)\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"HINDPETRO Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/HIND-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/HIND-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/HIND-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/HIND-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/HIND-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/HIND-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":172036,"url":"https:\/\/alphastreet.com\/india\/bharat-petroleum-q2-fy26-earnings-results\/","url_meta":{"origin":171885,"position":4},"title":"Bharat Petroleum Q2 FY26 Earnings Results","author":"Divyansh_Kasana","date":"November 3, 2025","format":false,"excerpt":"Bharat Petroleum Corporation Ltd delivered a remarkable 170% surge in consolidated net profit for Q2 FY26, driven by higher refining margins, better marketing spreads, and effective expense control. Financial Highlights Revenue: \u20b91,04,946 crore, up 2.1% from \u20b91,02,785 crore in Q2 FY25. Total Expenses: \u20b997,976 crore, down 2.97% from \u20b91,00,970 crore\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Q2 FY26","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/BL.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/BL.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/BL.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/BL.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/BL.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/BL.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":170177,"url":"https:\/\/alphastreet.com\/india\/bharat-petroleum-corporation-q1-fy26-earnings-results\/","url_meta":{"origin":171885,"position":5},"title":"BPCL Q1 FY26 Earnings Results","author":"Divyansh_Kasana","date":"August 14, 2025","format":false,"excerpt":"Bharat Petroleum Corporation Limited (BPCL), a public sector enterprise engaged in the refining of crude oil and marketing of petroleum products, has announced its Q1 FY26 Earnings Results. Q1 FY26 Earnings Results Revenue: \u20b91,12,551 crore, down 0.48% year-on-year (YoY) from \u20b91,13,095 crore in Q1 FY25. Total Expenses: \u20b91,05,521 crore, down\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"BPCL Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BPCLL.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BPCLL.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BPCLL.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BPCLL.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BPCLL.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/BPCLL.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/171885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1932"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=171885"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/171885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/171886"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=171885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=171885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=171885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}