Indian Oil Corporation earnings calls.

Indian Oil reported a net loss of Rs 2,661 croreCurrent reported value: net loss of Rs 2,661 crore. No comparable prior figure is available in the source record. for Q1 FY27 versus a PAT of Rs 5,689 crore in Q1 FY26, driven by geopolitical tensions causing crude prices to spike ~21% QoQ to $100.74/bbl (Indian basket). Revenue from operations rose 26% YoY to Rs 2.76 lakh croreCurrent reported value: 26% YoY to Rs 2.76 lakh crore. No comparable prior figure is available in the source record. on higher product prices, though the company absorbed some cost increases to shield domestic consumers. Inventory gains of ~Rs 15,000 crore on finished goods partially offset crude inventory losses of $3-4/barrel. Refinery throughput remained robust at 19.22 MMTCurrent 19.22 MMT. Reported change: +2.8% YoY. (109.4% utilization), while pipeline achieved record 28.5 MMTCurrent 28.5 MMT. Reported change: +8.4% YoY.. Management expects the Rs 90,000 crore capex wave (Panipat, Gujarat, Barauni expansions ~94-95% complete) to commission by end-2026, positioning for throughput of 77 MMT in FY27 rising to 85 MMT in FY28. LPG under-recovery has moderated from Rs 665/cylinder in June to ~Rs 250/cylinder in Q2 on declining Saudi CP. Key risks include renewed Middle East escalation, potential US sanctions on Russian/Iranian crude, and working capital intensity as borrowings jumped Rs 31,000 crore in one quarter. The market share defense strategy and project commissioning timeline remain critical near-term catalysts.