Indian Oil Q1 FY27: Standalone loss ₹2,661 crore

Results announced for quarter ended June 30, 2026

Indian Oil Corporation Limited (IOCL) has released its unaudited standalone financial results for the quarter ended June 30, 2026, the first quarter of FY2026-27. The results were considered and approved at a Board of Directors meeting held on July 31, 2026. Alongside the financial statements, the company made regulatory disclosures linked to listed debt instruments, as required under SEBI (Listing Obligations and Disclosure Requirements) norms.

Standalone performance shows a quarterly loss

For the quarter ended June 30, 2026, IOCL reported a Profit after Tax (PAT) of ₹(2,661.37) crore on a standalone basis. The company also disclosed a Profit or (Loss) before Tax of ₹(3,274.30) crore for the same period. The reported loss indicates that, at the standalone entity level, expenses exceeded income during the quarter.

Income and expenses: what the numbers show

IOCL’s total income for the quarter stood at ₹2,76,356.92 crore. Total expenses were reported at ₹2,79,631.22 crore. The gap between these two lines is consistent with the reported loss before tax for the period.

SEBI disclosures: proceeds, security cover, and defaults

The company’s quarterly disclosures included a statement indicating no deviation or variation in the use of proceeds from its listed non-convertible unsecured debentures for the quarter ended June 30, 2026. It also submitted a nil report in respect of security cover in the prescribed format. In addition, IOCL confirmed that there was no default in the payment of outstanding loans or revolving facilities, or unlisted debt securities.

Trading window closure around the results date

Ahead of the results, IOCL had scheduled its Board meeting for July 31, 2026 to consider and approve standalone and consolidated unaudited financial results for the quarter ended June 30, 2026. The company also closed the insider trading window for designated persons from July 1, 2026 to August 2, 2026, as part of compliance processes designed to prevent non-compliance during the period of financial disclosures.

Snapshot of key reported standalone numbers

The figures below reflect the standalone unaudited results for the quarter ended June 30, 2026, as disclosed.

Context from earlier disclosed quarterly metrics (group-level)

In earlier disclosures for the quarter ended June 30, 2025 (Q1 FY2025-26), the company reported group-level revenue from operations of ₹2,21,849 crore compared with ₹2,19,864 crore in the corresponding quarter of the previous year. Net profit for Q1 FY2025-26 was reported at ₹6,808 crore, compared with ₹3,723 crore in the corresponding quarter of the previous year. A separate consolidated snapshot for the same quarter also cited consolidated net profit of ₹6,813.71 crore, with total revenue of ₹2,21,849.02 crore and net income before taxes of ₹8,750.48 crore.

Operational metrics disclosed for Q1 FY2025-26 included refinery throughput of 18.683 MMT with 107% capacity utilisation, and cross-country pipeline throughput of 26.256 MMT. The reported gross refining margin (GRM) for Q1 FY2025-26 was $1.15 per barrel, while the normalised GRM was $1.91 per barrel. These data points provide background on the performance drivers that have historically influenced profitability across quarters.

Why the compliance disclosures matter for debt investors

Disclosures around the use of proceeds and security cover are closely tracked by bond investors because they signal how borrowings are deployed and whether lender protections remain intact. IOCL’s statement of no deviation in the use of proceeds for listed non-convertible unsecured debentures addresses a key governance checkpoint. The nil report on security cover, presented in the prescribed format, is another compliance item that helps standardise reporting for the debt market.

The confirmation of no defaults on outstanding loans or revolving facilities, or unlisted debt securities, is also material. While the quarter’s standalone result shows a loss, the default status disclosure focuses on whether contractual payment obligations were met, which can be relevant for credit monitoring.

Key dates and disclosures at a glance

Conclusion

IOCL’s unaudited standalone results for Q1 FY2026-27 show a net loss of ₹2,661.37 crore, with total expenses of ₹2,79,631.22 crore exceeding total income of ₹2,76,356.92 crore. The company also published SEBI-mandated statements covering debenture proceeds, security cover reporting, and default status, alongside the Board-approved results dated July 31, 2026. Investors will track subsequent disclosures for updates across standalone and consolidated performance as the financial year progresses.