Indian Oil Corporation Limited (IOC) — Financial Results | 27 January 2025(2 announcements)

Indian Oil Corporation reported Q3 FY2025 standalone revenue of ₹2,16,649.47 crore with net profit of ₹2,873.53 crore. Nine-month net profit reached ₹5,696.72 crore. Consolidated results show Q3 revenue of ₹2,15,522.35 crore and net profit of ₹2,115.29 crore. Exceptional income of ₹1,837 crore primarily from VAT credit reversals bolstered results. The company faces an Audit Committee governance compliance gap with insufficient independent directors as of November 2024. All raised funds of ₹22,410.20 crore through debentures were utilized per original purpose.

Indian Oil Corporation Limited reported Q3 FY2024-25 (ended December 31, 2024) standalone revenue from operations of ₹2,16,649.47 crore with net profit of ₹2,873.53 crore. Nine-month revenue reached ₹6,27,787.17 crore with net profit of ₹5,696.72 crore. The company recognized exceptional gains of ₹1,837 crore from VAT credit reversals. However, consolidated Q3 net profit was lower at ₹2,115.29 crore, reflecting subsidiary performance. A governance concern exists: insufficient independent directors for valid Audit Committee constitution as of November 24, 2024, though results were Board-approved.