Mumbai, Feb 05: Indian Oil Corporation (IOC) reported a significant 59.3% increase in net profit for Q3 FY26, reaching Rs 12,126 crore, a rise from Rs 7,610.5 crore in the previous quarter.
The company’s revenue surged to Rs 2.04 lakh crore, up 14.3% from Rs 1.78 lakh crore in Q2 FY26. EBITDA also saw a substantial rise of 42.8%, climbing to Rs 20,824.8 crore from Rs 14,584 crore, with the EBITDA margin expanding by 200 basis points to 10.2%.
The average Gross Refining Margin (GRM) for April to December 2025 was reported at $8.41 per barrel, significantly higher than the $3.69 per barrel from the same period in 2024.
In terms of stock performance, IOC’s shares rose 1.79% intra-day, closing at Rs 175.87, and have appreciated 39.10% over the past year. Additionally, IOC is part of an international consortium involved in a multi-million-dollar oil project in Venezuela and has initiated domestic production from the Jyoti-1 well in Gujarat.
