IOC net profit rises 53% in Q4 FY25; combined sales surpass 100 mt

State-run Indian Oil Corporation (IOC) on Wednesday reported a 53 per cent year-on-year growth in its consolidated net profit to ₹8,368 crore in Q4 FY25, aided by inventory gains, even as LPG under recovery stood at ₹19,926 crore.

Net profit of the country’s largest auto fuel retailer, which operates more than 37,000 fuel stations, rose multi-fold on a sequential basis.

IOC’s consolidated total income during Q4 FY25 stood at ₹2.23 lakh crore compared with Rs 2.21 lakh crore in Q3 FY25 and ₹2.25 lakh crore in Q4 FY24.

Total expenses were lower at ₹2.13 lakh crore in Q4 FY25 against ₹2.19 lakh crore in Q3 FY25 and ₹2.18 lakh crore in Q4 FY24.

The company board recommended a final dividend of ₹3 per share for FY25.

Better performance

The oil marketing company’s (OMC’s) performance was bolstered due to procuring crude oil at lower costs, particularly Russian barrels that accounted for around 22 per cent of the total cargoes and selling refined products at higher prices leading to inventory gains.

IOC Chairman, AS Sahney, said, “Our performance has improved. We are addressing issues of efficiency, profitability and reliability. Besides, our marketing team has started working on regaining the market share which we were consistently losing over the last few quarters. We are now back in business. We are there to increase our market share substantially, particularly in diesel and ATF. We are focusing on these two.”

The two commodities account for a major part of IOC’s production. About 55-60 per cent of the OMC’s total production goes into these two commodities, he added.

IndianOil achieved highest-ever sales volumes of 100.29 mt in FY25 crossing the 100-million tonne (mt) milestone with highest-ever sales in all segments—Petroleum, Petrochemicals and Gas for the first time.

IOC’s cross-country pipelines achieved a throughput of 100.48 mt in FY25. It also expanded its pipelines network by 260 km, taking the total network to above 20,000 km.

Sahney said that diesel grew around 2 per cent, petrol about 7 per cent and ATF – around 9 per cent in FY25.

“It is still the trajectory of demand that India is looking at. We are still hopeful that diesel will regain its normal annual growth of 3-5 per cent. Petrol growth is very healthy. We expect ATF growth will go further higher, beyond 9 per cent,” he added.

Operational metrics

IOC’s gross refining margin (GRM) for Q4 FY25 was $7.85 per barrel ($8.39). For FY25, the GRM is $4.80 per bbl ($12.05).

During Q4 FY25, its total sales volumes, including exports, was 25.95 mt registering a growth of 2.6 per cent.

The refining throughput increased 1.5 per cent to 18.55 mt in Q4 FY25 and the throughput of IOC’s countrywide pipelines network is 25.78 mt during the quarter, a y-o-y increase of 4.8 per cent. For FY25, refining throughput was 71.56 mt and the throughput of the countrywide pipelines network was 100.48 mt during the year.

In FY25, IoCL incurred a capex of around ₹39,260 crore (₹42,236 crore).

Published on April 30, 2025