Indian State Energy Firms Post Divergent Q2 FY27 Results

Indian Oil Corporation reported a 174% year-on-year rise in consolidated net profit for Q2 FY27, reaching ₹22,503 crore from ₹8,191 crore a year earlier, according to Sarkaritel.com.

State-owned gas distributor GAIL (India) posted a more-than-twofold jump in quarterly profit, helped by strong growth in its natural gas marketing business, according to Indian Oil & Gas.

Not every state energy firm gained. Indraprastha Gas Ltd (IGL) reported a 93.83% year-on-year decline in consolidated net profit to ₹23.75 crore in Q2 FY27, down from ₹384.95 crore in the same quarter a year earlier, according to Sarkaritel.com.

Power generator NTPC Limited reported a 38.7% year-on-year rise in consolidated net profit attributable to shareholders, reaching ₹7,029.56 crore for the July-September quarter, compared with ₹5,066.78 crore in the corresponding quarter last year, according to Awaz The Voice.

Indian Oil finance director Anuj Jain said in a post-results analyst call that under-recovery on LPG stood at around ₹309 per domestic cylinder in November 2026 and was likely to reach ₹370 in December, according to The Hindu Business Line.

Jain also told investors that crude oil prices remained highly volatile in the September-end quarter, with procurement carried out at both discounts and premiums, according to The Hindu.