Indian Oil reports strong Q2 earnings, reappoints statutory auditors

Indian Oil Corporation Limited reported a standalone profit before tax (PBT) of INR 10,065.57 crore for the quarter ended September 30, 2025, a significant increase from INR 984.47 crore in the same period last year. Consolidated PBT for the quarter also rose to INR 11,103.71 crore, compared to a loss of INR 588.71 crore in Q2 FY2024-25. The company's revenue from operations on a standalone basis reached INR 2,02,992.34 crore, with consolidated revenue at INR 2,06,447.11 crore for the quarter.

The board of directors also noted the reappointments of its statutory auditors for the year 2025-26, including M/s K G Somani & Co. LLP, M/s Khandelwal Jain & Co., M/s Komandoor & Co. LLP, and M/s MKPS & Associates, as made by the Office of the Comptroller and Auditor General of India. Additionally, the company confirmed that there was no deviation or variation in the utilization of proceeds from its listed non-convertible unsecured debentures, which totaled INR 20,290.20 crore outstanding as of September 30, 2025.

Operational highlights for Q2 FY2025-26 include refinery throughput of 17.6 MMT and pipeline throughput of 24.1 MMT. The average gross refining margin (GRM) for April-September 2025 stood at US$6.32 per bbl.