New Delhi: Indian Oil Corporation (IndianOil), the country's largest oil marketing company, on Friday reported a standalone net profit of Rs 21,630 crore for the second quarter of FY27, compared with Rs 7,610 crore in the same quarter a year earlier and a loss of Rs 2,661 crore in the preceding April-June quarter, according to its stock exchange filing reported by ANI.

Source: ANI

On a consolidated basis, net profit more than doubled year on year to around Rs 22,503 crore in Q2 FY27, while consolidated total income stood at around Rs 2.69 lakh crore, compared with Rs 2.82 lakh crore in Q1 FY27 and Rs 2.07 lakh crore in Q2 FY26, The Hindu BusinessLine reported.

Source: The Hindu BusinessLine

Standalone revenue from operations was Rs 2.62 lakh crore in the quarter, down 4.7 per cent sequentially, while profit before tax rose to Rs 26,617 crore against a loss of Rs 3,274 crore in the June quarter. For the first half of FY27, net profit rose to Rs 18,969 crore from Rs 13,299 crore a year earlier, an increase of about 43 per cent, ANI reported, citing the company's filing.

Source: ANI

In its press release, IndianOil said the quarter's profitability was largely driven by a temporary decline in crude oil prices from mid-June to mid-August and robust margins from its petrochemical and gas businesses. Reuters reported that the results were also helped by government compensation for losses on domestic LPG sold below market rates.

Source: ANI / Reuters

The company disclosed that its cumulative negative buffer from under-recoveries on domestic LPG sales stood at Rs 32,505.69 crore as of September 30, 2026, despite the government compensation recognised during the half year, The Hindu BusinessLine reported from the BSE filing. Domestic fuel sales rose 4.8 per cent to about 23.9 million tonnes in the quarter.

Source: The Hindu BusinessLine