NEW DELHI: State-run Indian Oil Corporation (IOC) reported record profit of Rs 22,503 crore during the Sept quarter – a 2.7-fold jump over a year ago – driven largely by a decline in crude oil prices between July and mid-Aug and robust margins from the petrochemical and gas segments. In the June quarter, the company had reported a loss of Rs 1,241 crore due to elevated crude prices amid the West Asia war. IndianOil, however, warned that profitability in the upcoming quarters may again be impacted by inventory losses if crude oil prices fall with the normalisation of the situation in West Asia.The company’s consolidated revenue from operations rose 30% to Rs 2.7 lakh crore in Q2FY27, from Rs 2.1 lakh crore in Q2FY26. For the first half of FY27, IOC reported a consolidated net profit of Rs 21,361.5 crore, up 42% from Rs 14,999 crore in April-Sept FY26.
