Indian Oil Q4 net profit jumps 57% on strong margins; declares 12.5% dividend

Indian Oil Corporation Ltd (IOC) on Monday (May 18) reported a 56.6% year-on-year increase in net profit at ₹11,377.51 crore, compared with ₹7,264.85 crore in the corresponding period last year, aided by healthy marketing and refining margins.

Revenue from operations rose 6.9% year-on-year to ₹2,32,855.33 crore from ₹2,17,725.44 crore. For FY26, it reported a net profit of ₹36,802 crore, up by ₹23,840 crore from ₹12,962 crore in FY2024–25.



The company reported its highest-ever refinery throughput at 75.451 MMT in FY26, up 5% from 71.564 MMT in the previous financial year. Pipeline throughput also reached a record 105.556 MMT, increasing 5% from 100.477 MMT in FY25. Total sales volume rose 5% year-on-year to a record 105.117 MMT from 100.292 MMT.

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Petroleum sales increased 5% to 88.967 MMT from 84.963 MMT, while petrochemical sales rose 4% to 3.294 MMT from 3.155 MMT. Gas sales grew 6% to 7.276 MMT from 6.892 MMT, while export sales increased 6% to 5.213 MMT from 4.917 MMT in FY25.

Total borrowings declined 18% to ₹1,10,668 crore as of March 31, 2026, compared with ₹1,34,466 crore a year earlier. Targeted revenue expenses increased 2.5% year-on-year to ₹18,646 crore from ₹18,187 crore despite higher business scale and rising costs linked to geopolitical conflict.

Further, its board has approved the formation of a 50:50 joint venture company in India with M11 Energy Transition Private Ltd to set up a 100 KTPA HEFA-based Sustainable Aviation Fuel project at Paradip. The project is estimated to cost ₹1,063.60 crore (±30%), subject to approvals from NITI Aayog, DIPAM and other authorities.

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Indian Oil said its board has recommended a final dividend of 12.5% for FY2025–26, equivalent to ₹1.25 per equity share of face value ₹10 each, subject to shareholder approval at the ensuing annual general meeting.

The company said the final dividend will be paid within 30 days from the date of declaration at the AGM. The record date for payment of the final dividend will be fixed and intimated separately.

Shares of Indian Oil Corporation Ltd ended at ₹131.85, down by ₹2.70, or 2.01%, on the BSE.

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