Indian Oil stock: H1 profit rises 43% as throughput hits records

Published on 11/13/2026 at 01:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Indian Oil stock gains a stronger earnings backdrop after record first-half operating volumes. The company warns that lower crude prices could pressure coming quarters.

Indian Oil's H1 turnaround

IndianOil reported higher first-half revenue and profit for fiscal 2026-27.
Refinery throughput, pipeline throughput and fuel sales reached record first-half levels.
Management cautioned that falling crude prices could create inventory losses in coming quarters.

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Indian Oil Corporation reported a sharp improvement in first-half performance for fiscal 2026-27, with net profit rising 43 percent from a year earlier. In its IndianOil performance release, dated October 30, the company said revenue from operations reached INR 538,907 crore, up 28 percent year over year.

Record operating volumes support results

Refinery crude throughput reached 37.273 million metric tonnes in the first half, compared with 36.292 million tonnes a year earlier. Capacity utilisation stood at 105.8 percent, while cross-country pipeline throughput increased 7 percent to 53.896 million tonnes.

Total sales volume rose to 51.439 million tonnes from 50.590 million tonnes. IndianOil also reported a 1.2 percentage-point increase in domestic market share to 42.7 percent, while motor spirit sales increased 9 percent and high-speed diesel sales rose 8 percent.

Crude prices remain a key risk

The company attributed the stronger quarter to a temporary decline in crude prices from mid-June to mid-August and robust margins in petrochemicals and gas. It cautioned that a normalisation of conditions in the Middle East and a potential decline in crude prices could lead to inventory losses in future quarters.

For investors, the figures underline the sensitivity of IndianOil's earnings to refining margins, crude-price movements and government compensation for domestic fuel obligations. The operating gains provide support, but the outlook remains exposed to changes in the oil-price environment.

IndianOil's operating footprint

IndianOil is an Indian energy company active in refining, fuel marketing, pipelines, petrochemicals and natural gas. Its operations include domestic petroleum-product sales and overseas subsidiaries in Sri Lanka, Mauritius and the Middle East. The company also highlights conventional fuel operations alongside green-fuel alternatives and environmental initiatives.