State property Fuel Shop reported bumper profits in the quarter of June, as a freezing of selling prices increased gasoline and diesel margins, which compensates for earlier inventory losses.
Indian Oil Corporation (IOC), Bharat Petroleum Corporation LTD (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) reported a combined win of £ 16,184 CRORE in April-June, the first quarter of FY26 more than two and a turn of a turn of the companies.
Among the three, BPCL led with a crore win of £ 6,124, which surpassed IOCs £ 5,689 crore, even though it was almost half of its size. HPCL recorded a net profit of £ 4,371 crore in Q1.
BPCL also did well with refining margins, and earned $ 4.88 to change any barrel of crude oil into fuels such as gasoline and diesel. This was better than the $ 2.15 per barrel gross sophistication margin of IOC and the $ 3.08 from HPCL. The refiner ice speed of 118 percent (of installed capacity) was higher than 107 percent of IOC and 10.9 percent of HPCL.
With 153 kiloliters per month, BPCL sold more fuel per pump, other rivals are in the public sector. IOC had a transit of 130 per kl per retail in Q1.
The bumper revenues in April-June were stimulated by retailers who earned an estimated £ 10.3 per line margin for petrol sales (£ 4.4 a year earlier) and £ 8.2 per liter on diesel (£ 2.5 last year), according to brokers icici effects.
This after the three retail retail trade kept stable, despite a fall of 21 percent in the prices of the input of the crude oil and a reduction in international fuel rates of 16-18 percent.
The extraordinary marketing margin helped to compensate for inventory losses that arose from the fall in the prices for crude oil between the time it was obtained and was for sale in fuel.
Only IOC recorded a stock loss of £ 6,465 Crore in the quarter of June at a profit of £ 3,345 Crore in the period of a year ago. After correction for inventory losses, the gross refining margin (GRM) should have been $ 6.91 per barrel compared to $ 2.84 last year.
HPCL had a stock loss of approximately £ 2,000 crore in the quarter.
The companies registered profit despite the unpaid LPG subsidy. Although the government has announced £ 30,000 crore as a subsidy to cover the losses that the three companies suffered when selling cooking gas at lower rates than their costs, the modalities of payments still have to be announced. In absence, the three losses booked on LPG – £ 3,719 crore by IOC, £ 2,076 crore by BPCL and £ 2,148 crore by HPCL.
Published on August 24, 2025
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