Indian Oil Q4 FY25: profit up 58%, dividend Rs 3

The headline numbers from Q4 FY25

Indian Oil Corporation (IOC) reported a strong rebound in profitability in Q4 FY25 (Jan to Mar), even as revenue stayed broadly flat year-on-year. Consolidated net profit attributable to owners rose 58% to ₹8,123.64 crore, compared with ₹5,148.87 crore in the same quarter last year. Consolidated revenue from operations was ₹2,21,360.24 crore, down about 1% year-on-year from ₹2,23,649.85 crore. The quarter also marked a sharp improvement versus Q3 FY25, when IOC reported net profit of ₹2,115.29 crore amid lower refining margins and higher expenses.

The company’s results were released alongside an update on shareholder payouts, with the board recommending a final dividend for FY25. IOC’s stock reaction was positive immediately after the results, reflecting the scale of the sequential profit recovery. At a sector level, the print came at a time when oil marketing companies have also been sensitive to crude price moves and pump-price policies.

Q4 FY25 performance: income, expenses, and profit movement

IOC’s consolidated total expenses fell to ₹2,12,834.10 crore in Q4 FY25 from ₹2,17,915.98 crore in Q4 FY24. Sequentially, expenses also declined from ₹2,18,691.61 crore in Q3 FY25, a drop of nearly 3% as stated in the provided data. With revenue nearly flat year-on-year and expenses lower, profitability improved sharply compared with the prior quarter.

In the quarterly table shared in the article, revenue from operations for Q4 FY25 is shown at ₹2,21,360 crore versus ₹2,23,649 crore in Q4 FY24, with total income at ₹2,22,598 crore. The same table shows profit after tax (PAT) of ₹8,367.63 crore for Q4 FY25, alongside profit before tax (PBT) of ₹10,044.65 crore. It also reports EBITDA of ₹15,225 crore for the quarter, with an asterisk noting the year-on-year drop was influenced by a high base in FY24 linked to exceptional earnings.

The article also lists other quarterly details such as other income of ₹1,237.8 crore, exchange fluctuation gain of ₹424 crore, and interest expenditure of ₹2,046 crore for Q4 FY25. Gross refining margin (GRM) is reported at US$ 7.85 per barrel, providing a key snapshot of refinery economics during the quarter.

Standalone Q4 result and how it compares

Alongside consolidated performance, IOC’s standalone Q4 FY25 net profit was reported at ₹7,264.85 crore, a 50% year-on-year increase. Standalone revenue from operations for the quarter was reported at ₹2,17,725.44 crore.

The data also highlights strong sequential movement in standalone profitability, with a comparison point of ₹2,873.53 crore net profit in Q3 FY25 referenced in one of the snippets. Another portion of the text notes that Q4 consolidated net profit was “nearly 300x” what was reported in the previous quarter, while also stating Q3 consolidated net profit of ₹2,115.29 crore. These figures point to a steep quarter-on-quarter recovery, although the exact multiplier differs across snippets.

Segment mix: petroleum products remain the core driver

The segment disclosure in the article indicates IOC’s revenue mix continues to be anchored by petroleum products. In Q4 FY25, petroleum products contributed ₹2,06,132 crore of revenue. Petrochemicals contributed ₹7,226 crore, gas contributed ₹11,190 crore, and other business activities contributed ₹1,681 crore. Total segment revenue was ₹2,26,229 crore before inter-segment adjustments.

On segment results (before finance costs and exceptional items), petroleum products led with ₹10,327 crore in profit. Petrochemicals contributed ₹332 crore, gas ₹52 crore, and other businesses ₹104 crore. The numbers show the company’s earnings are still dominated by refining and marketing, while non-fuel segments provide incremental contribution.

Operating metrics: EBITDA, GRM, and leverage indicators

The quarterly table in the content reports EBITDA of ₹15,225 crore for Q4 FY25, versus ₹57,288 crore in Q4 FY24, with the year-on-year fall attributed to a high base in the earlier period. GRM is listed at US$ 7.85 per barrel for Q4 FY25, a widely tracked metric for oil refiners.

The highlights section also states a reported debt level of ₹1,34,466 crore. While the article does not provide a like-for-like comparison of debt across periods in the same section, the figure adds context for investors tracking balance-sheet leverage and interest costs.

FY25 full-year picture: profit down despite Q4 rebound

For FY25 as a whole, IOC reported consolidated net profit attributable to owners of ₹13,507.84 crore, a 68% decline versus ₹41,729.69 crore in FY24. Consolidated revenue from operations for FY25 was ₹8,59,362.73 crore, down 2% from ₹8,81,235.45 crore in FY24.

The article also states consolidated total expenses of ₹8,49,411.46 crore for FY25, compared with ₹8,29,332.15 crore in FY24. Separately, it lists FY25 EPS of ₹9.87 (basic and diluted). The annual numbers underline that while Q4 was strong, FY25 profitability remained materially lower year-on-year.

Dividend: ₹3 per share final payout proposed

IOC’s board recommended a 30% final dividend of ₹3 per equity share (face value ₹10) for FY25, subject to shareholder approval at the annual general meeting (AGM). The company said the dividend would be paid within 30 days of declaration at the AGM, and that the record date would be announced later.

In the profit and loss table provided for the year ended March 2025, equity share dividend is shown at ₹9,640.28 crore and the equity dividend rate is shown as 30.00%. The same table shows profit before tax of ₹15,882.34 crore and profit after tax (after tax and before extraordinary items) of ₹12,961.57 crore for the year ended March 2025, with basic and diluted EPS of ₹9.41.

Stock move and the latest price points cited

Following the release of the quarterly report, the article states IOC shares were up 1.3% at ₹138.20 at 3 pm on the BSE. Another snippet in the provided text states the stock ended 0.9% higher at ₹137 on the BSE after the earnings announcement.

Separately, the “NSE Live” line included in the input shows a later data point: April 29 at 15:59, IOC at ₹144.19, down ₹1.20 or 0.83%. These data points indicate that prices moved over time and across market snapshots included in the input, rather than a single continuous tick-by-tick timeline.

What the numbers suggest for investors tracking OMCs

The Q4 FY25 print highlights how sensitive IOC’s earnings can be to a mix of refining margins, inventory gains, petrochemical performance, and cost control. The article notes that profit during one of the reported quarters was mainly due to “higher inventory gain and higher petrochemical margin,” indicating that non-linear factors can meaningfully swing quarterly profit.

The broader context in the input also references an “oil price shock” rattling oil marketing company stocks if pump prices stay frozen, and a brokerage expectation that BPCL’s Q4 PAT may dip to ₹4,840 crore. While these references do not quantify IOC’s exposure to future pricing outcomes, they frame why investors often read OMC earnings alongside crude price trends and retail pricing decisions.

Key numbers table

Conclusion

IOC’s Q4 FY25 results showed a sharp rebound in profit, supported by lower expenses and reported operating metrics such as GRM of US$ 7.85 per barrel, while revenue stayed near last year’s levels. The company also proposed a ₹3 per share final dividend for FY25, subject to shareholder approval at the AGM, with the record date to be announced. For investors, the key contrast remains between a strong March-quarter recovery and a full-year FY25 profit that was significantly lower than FY24.