IndianOil Reports Record Operational Performance in Q1 FY27 Despite ₹2,661 Crore Net Loss
Highest-ever crude throughput, pipeline throughput and fuel sales achieved; rising crude prices due to West Asia conflict hit profitability
Indian Oil Corporation Limited (IndianOil) delivered a record operational performance during the first quarter of FY 2026-27, even as the country’s largest oil marketing company reported a net loss of ₹2,661 crore, primarily due to a sharp increase in crude oil prices triggered by the West Asia conflict.
The company achieved its highest-ever first-quarter crude throughput of 19.165 million metric tonnes (MMT) while registering a refinery capacity utilisation of 109.4%, compared with 106.7% in the corresponding quarter of the previous financial year. Refinery throughput increased by 3% over Q1 FY26.
IndianOil also recorded its highest-ever quarterly pipeline throughput, which rose by 9% to 28.548 MMT, reflecting robust demand and operational efficiency across its pipeline network.
On the marketing front, the company posted record quarterly sales of Motor Spirit (MS) at 4.522 MMT and High-Speed Diesel (HSD) at 10.866 MMT. Domestic market share increased to 43.1%, up from 41.5% in the corresponding quarter last year. Overall petroleum product sales stood at 22.542 MMT, registering a 1% increase year-on-year.
Natural gas sales also witnessed healthy growth, rising 11% to 1.873 MMT, while fuel oil sales increased by 22%. IndianOil further strengthened its lubricants portfolio by launching a new premium SERVO range, including SERVO Hypersport for motorcycles, SERVO Hyperdrive for passenger vehicles and SERVO Hypertorq for commercial vehicles.
The company reported revenue from operations of ₹2,75,972 crore during the quarter, a 26% increase over ₹2,18,608 crore recorded in Q1 FY26.
Despite strong operational and revenue growth, profitability came under severe pressure. IndianOil swung from a net profit of ₹5,689 crore in Q1 FY26 to a net loss of ₹2,661 crore in Q1 FY27. According to the company, the decline in profitability was mainly due to the rise in crude oil prices caused by the West Asia conflict.
Among business segments, the petrochemicals business showed a significant turnaround, with segment profit improving by ₹218 crore, while the gas business also recorded a substantial increase in profitability, with segment profit rising by ₹476 crore year-on-year.
Key Highlights
- Net Loss: ₹2,661 crore (Q1 FY27)
- Revenue from Operations: ₹2,75,972 crore (up 26%)
- Highest-ever Q1 Crude Throughput: 19.165 MMT
- Highest-ever Quarterly Pipeline Throughput: 28.548 MMT
- Refinery Capacity Utilisation: 109.4%
- Petroleum Sales: 22.542 MMT
- Domestic Market Share: 43.1%
- Natural Gas Sales: 1.873 MMT (up 11%)
- Record Quarterly Sales of MS: 4.522 MMT
- Record Quarterly Sales of HSD: 10.866 MMT
- Fuel & Loss reduced to 8.04%, the lowest-ever in the BS-VI era.
