Shares of Indian Oil Corporation (IOC) saw an increase after the state-owned refiner revealed a close to 60% rise in profits for the December quarter of FY26. The net profit surged by 59.3% to Rs 12,126 crore, up from Rs 7,610.5 crore in the previous quarter. Revenue for the quarter rose to Rs 2.04 lakh crore, marking a 14.3% increase from the prior quarter.
Earnings before interest, tax, depreciation, and amortization (EBITDA) rose by 42.8% sequentially to Rs 20,824.8 crore from Rs 14,584 crore. The EBITDA margin expanded by 200 basis points to 10.2% from 8.2% in the prior quarter. The company stated that the Average Gross Refining Margin (GRM) for the period April – December 2025 was $8.41 per barrel.
The core GRM for the same period after adjusting for inventory loss or gain stood at $9.86 per barrel. Over the past month, IOC’s stocks have gained 6.58%, and over the past year, they have surged by 39.10%. In January, Indian Oil Corporation announced the commencement of first domestic production from the Jyoti-1 well in Gujarat, marking a significant milestone in India’s upstream energy journey.
IOC’s shares rose by 1.79% on an intra-day basis to close at Rs 175.87, up Rs. 3.09 for the day.
