Indian Oil swings to ₹2,661 crore quarterly loss as fuel marketing margins turn negative
IOC reported its first quarterly loss in 15 years for the June quarter, as a sharp rise in crude prices pushed petrol and diesel marketing margins into negative territory. Revenue rose 26.2% to ₹2.76 trillion, aided by LPG-loss compensation.
Indian Oil posted a ₹2,661-crore quarterly loss as elevated crude prices drove petrol and diesel marketing margins negative. Revenue rose 26.2% with government LPG compensation, while Indian fuel demand declined across April to June.
Why this matters
The loss follows recent IOC signals showing a ₹2,661 crore Q1 loss, EBITDA margin falling to 0.7%, and refining margins collapsing, indicating pressure across both fuel marketing and refining.
Retail-company signals are accelerating, up 217,500% QoQ.