IOC posts ₹2,661 crore Q1 loss as refining margins collapse
Indian Oil reported a ₹2,661.3 crore standalone loss for the June quarter despite revenue rising to ₹2.76 lakh crore. EBITDA fell to ₹1,947 crore and margin narrowed to 1% from 10% sequentially; ₹3,621.5 crore in LPG compensation partly cushioned the hit.
Indian Oil posted a ₹2,661.3 crore Q1 standalone loss as refining and marketing margins collapsed despite higher revenue. Government LPG compensation of ₹3,621.5 crore softened the impact, while a non-functional audit committee since March raised governance concerns.
Why this matters
The loss follows IOC's push to secure LPG-carrier stakes ahead of higher US imports from 2027, while the government continues defending E20 despite ₹71/litre ethanol costs.
Retail-company signals are accelerating, up 216883% QoQ.