IOC Q2 profit jumps 184% on stronger refining margins
In short
Indian Oil Corporation said its Q2 profit jumped 184%, helped by better refining margins. Its gross refining margin after special excise duty was $18.52 per barrel, and net profit was ₹21,630 crore versus a ₹2,661 crore loss in Q1.
This matters because stronger margins can lift earnings even when revenue falls 4.6% to ₹2.50 lakh crore. The report does not fully explain why sales dropped.
What the reporting says
Indian Oil Corporation reported a 184% jump in Q2 profit, helped by stronger refining margins after special additional excise duty, with gross refining margins at $18.52 per barrel. The available reporting also says net profit was ₹21,630 crore versus a ₹2,661 crore loss in Q1, while revenue fell 4.6% to ₹2.50 lakh crore. The source does not explain the full mix behind the revenue decline.
Why it matters
Indian Oil Corporation posted a sharp earnings rebound in Q2, with profit up 184% and gross refining margins reported at $18.52 per barrel after special additional excise duty. The syndicated summary also said net profit was ₹21,630 crore, compared with a ₹2,661 crore loss in Q1, and revenue slipped 4.6% to ₹2.50 lakh crore. The market focus is on refining profitability, but the source does not fully explain the revenue decline.