Indian Oil net profit jumps three times to over twenty one thousand crore rupees in second quarter

Indian Oil reports a net profit of ₹21,630 crore for the second quarter, marking a huge jump from ₹7,610 crore during the same period last year. Higher pump prices and government help through LPG subsidies drive this financial growth. Operational revenue climbs 29 percent to reach ₹2,62,935 crore. At the same time, the company's operating profit from selling petroleum products more than doubles.

Context

State-run oil companies in India often see profits move up and down based on global crude oil costs, domestic retail fuel pricing, and state support payments for cooking gas. Government subsidies help cover losses when cooking gas is sold below market cost to consumers.