State-run Indian Oil Corporation (IOCL) on Friday reported a consolidated net loss of around ₹1,141 crore in Q1 FY27 largely due to selling petrol, diesel and LPG below market costs.The country’s largest oil marketing company (OMC) reported a consolidated net profit of ₹15,176 crore in Q4 FY26 and ₹6,808 crore in Q1 FY26.The loss during the current quarter is mainly due to suppressed marketing margin on certain petroleum products, which was partially offset by higher refining margin.IOCL’s consolidated total income in Q1 FY27 was higher at around ₹2.82 lakh crore compared to ₹2.39 lakh crore in Q4 FY26 and ₹2.22 lakh crore in Q1 FY26.Its consolidated total expenses were also higher in Q1 FY27 at ₹2.84 lakh crore compared to ₹2.20 lakh crore in Q4 FY26 and ₹2.15 lakh crore in Q1 FY26.IOCL CMD A.K. Sahney said that IOCL reported its highest-ever April-June quarter crude throughput of 19.165 million tonnes (mt) during Q1 FY27 and lowest-ever quarterly Fuel & Loss of 8.04 per cent post BS-VI scenario.“We also reported our highest-ever quarterly pipeline throughput of 28.548 mt and the highest-ever quarterly sales of petrol (4.522 mt) and diesel (10.866 MMT),” he added.The IOCL chief said that the OMC has enough crude oil supplies to last for 45-50 days. The company has diversified its sourcing base, which helped it navigate the latest tensions in West Asia.Indian Oil also raised $500 million under the Reserve Bank of India’s concessional dollar-rupee swap window for external commercial borrowings. The facility seeks to offer concessional swaps for fresh FNCR (B) deposits, external commercial borrowings (ECBs) and overseas foreign currency borrowings (OCBs).In its results filing on BSE, IOCL said that as on June 30, 2026, the parent company had a cumulative net negative buffer (under-recovery) of ₹29,729.95 crore.Government’s approval for compensation of ₹14,486 crore to IOCL, towards under-recoveries incurred on sale of domestic LPG up to March 31, 2025 and likely to be incurred up to March 31, 2026, it added.This will be disbursed in 12 equal monthly instalments, the accrual of which shall only be on a monthly basis starting from November 2025 and thereafter will be disbursed accordingly. In accordance with the letters, the instalment for the period from April 2026 to June 2026 aggregating to ₹3,621.51 crore has been recognised as Revenue from Operations in the books of account and the cumulative net negative buffer has been reduced to that extent, it said.Published on July 31, 2026