Indian Oil Corporation reported a mixed performance for the March quarter of FY26, with consolidated revenue from operations rising marginally to ₹2.36 lakh crore, compared to ₹2.21 lakh crore in the corresponding quarter last year.

Total income for the quarter stood at ₹2.38 lakh crore, up from ₹2.22 lakh crore in Q4FY25.

Meanwhile, net profit rose to ₹14,458 crore in Q4FY26 from ₹8,123 crore in Q4FY25, registering a strong 78% year-on-year growth, aided by healthy marketing and refining margins before the full impact of the ongoing war-driven disruption in global energy markets hit earnings.

The record quarter profit came despite the company suffering huge losses on selling petrol, diesel, and cooking gas LPG below cost in March, as it, along with other state-owned fuel retailers, insulated the domestic market from volatility that hit the international market after the start of the West Asia conflict.

The conflict started with the US and Israel attacking Iran on February 28, followed by Tehran’s sweeping retaliation that shut the Strait of Hormuz, through which a bulk of India and the world’s oil and gas supplies flowed.

Standalone net profit rose to ₹11,377.51 crore from ₹7,264.85 crore a year back, the company said in a stock exchange filing

For the full financial year FY26, IOC reported consolidated revenue from operations of ₹8.91 lakh crore, compared to ₹8.50 lakh crore in FY25, while net profit jumped sharply to ₹44,677 crore from ₹13,789 crore in the previous fiscal year.

Net profit attributable to equity holders of the parent stood at ₹42,096 crore in FY26, compared to ₹13,598 crore in FY25, reflecting a substantial improvement in profitability. Total expenses during FY26 stood at ₹8.51 lakh crore, compared to ₹8.49 lakh crore in FY25.

The company reported record operational performance across key segments in FY26. It achieved its highest-ever crude throughput of 75.4 million tonnes, while pipeline throughput touched a record 105.3 million tonnes. Consolidated petroleum product sales rose to an all-time high of 104.4 million tonnes, up around 4% year-on-year.

In the marketing business, the company commissioned a record 909 retail outlets during the year, strengthening its nationwide presence. The lubricants segment delivered record sales of 855 thousand metric tonnes, growing around 15% and significantly outperforming industry growth.

Meanwhile, the petrochemicals business posted its best-ever performance, with sales of 3.22 million tonnes and production of 3.4 million tonnes, while RLNG sales stood at approximately 5.60 million tonnes.

Company announces dividend reward for FY26

Along with the financial performance, the company announced a final dividend of ₹1.25 per share.

“The Board has recommended a final dividend of 12.5% for FY26, amounting to ₹1.25 per equity share of face value ₹10 each on the paid-up share capital, subject to shareholders’ approval at the ensuing Annual General Meeting (AGM) of the company. The final dividend will be paid within 30 days from the date of declaration at the AGM. The record date for the payment of the final dividend will be fixed and intimated in due course,” the company said in its earnings filing.

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