Indian Oil Corporation rises after Q2 profit nearly triples

Indian Oil

02/11/2026 04:38

** Shares of Indian Oil Corporation IOC.NS rise 3.2% to 134.26 rupees
** Stock on track for their biggest intraday percentage gain since September 30
** Co reports Q2 net profit nearly triples Y/Y to 216.3 billion rupees ($2.28 billion) from 76.10 billion rupees
** Says revenue from operations rises 29.6% Y/Y to 2.63 trillion rupees 
** Jefferies says reported EBITDA of 303 billion rupees was sharply ahead of its estimate, aided by stronger refining and inventory gains
** Stock rated "buy" on average by 30 analysts; median PT is 153 rupees - LSEG-compiled data
** Stock down 19.3% YTD

($1 = 94.8551 Indian rupees)

 (Reporting by Payel Das in Bengaluru)
 ((Payel.das@thomsonreuters.com))