rose nearly 3 per cent in early trade on Tuesday after the company reported a 56 per cent year-on-year jump in its March quarter standalone net profit, driven by strong refining and marketing margins as well as record operational performance across segments.
IOC shares traded 2.5 per cent higher at ₹135.15 on the NSE at around 10:35 am after hitting an intraday high of ₹135.63.
The state-run oil marketing company reported a standalone net profit of ₹11,377.51 crore for the January-March quarter of FY26, compared with ₹7,264.85 crore in the corresponding period last year. Revenue growth was supported by healthy refining margins and improved fuel marketing performance before the full impact of the ongoing West Asia conflict weighed on global energy markets.
For FY26, IOC posted a record standalone net profit of ₹36,802.42 crore, sharply higher than ₹12,961.57 crore reported in FY25.
The company said the strong earnings performance came despite losses incurred on retail sales of petrol, diesel and LPG during March, as state-owned fuel retailers absorbed higher international fuel costs to shield domestic consumers from sharp global price volatility.
Investors are now closely tracking the impact of the ongoing geopolitical tensions in West Asia on oil prices and refining margins. The April-June quarter is expected to fully reflect the disruption caused after the US and Israel attacked Iran on February 28, followed by Tehran’s retaliation and the temporary closure of the Strait of Hormuz, a key global oil and gas shipping route.
Other oil marketing company stocks also traded higher on Tuesday. Shares of Hindustan Petroleum Corporation and Bharat Petroleum Corporation gained after petrol and diesel prices were raised for the second time in a week.