IOC, BPCL, HPCL Post Rs 30,106 Crore Q2 Profit, Clock 39% Of Annual Earnings

State-run fuel retailers earned a combined standalone net profit of Rs 30,106 crore

India's three state-run fuel retailers earned a combined standalone net profit of Rs 30,106 crore in the July-September quarter, nearly 39 per cent of their annual earnings, after a refining margin boost and inventory gains helped more than offset losses on fuel sales and a mounting unpaid LPG subsidy bill.

The strong quarterly performance came despite continued pressure on their marketing business, where oil companies have been absorbing losses by selling certain fuels below cost.

The combined profit of Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) is 68.3 per cent more than their earnings in the same period last year and a swing from a combined loss of about Rs 18,150 crore in the previous April-June quarter, according to company filings.

Further, the July-September quarter alone equals about 39 per cent of the three companies' combined FY26 (April 2025 to March 2026 financial year) profit of Rs 77,281 crore.

What top executives said on financial performance:

IOC Director (Finance) Anuj Jain at an investor call said under-recoveries or losses on LPG were Rs 184 per cylinder in September, which…

Original source: https://www.timesnownews.com/business-economy