# ONGC, Oil India, GAIL profits surge; IOC posts loss

2026-08-07T20:49:41+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 1 independent outlet

India's state-owned oil companies posted mixed results for the June quarter. Upstream firms ONGC, Oil India, and GAIL more than doubled their profits, riding on higher crude prices and stronger realisations. But marketing firms Indian Oil, HPCL, and BPCL reported net losses as they held retail fuel prices steady despite rising global crude. ONGC's standalone net profit surged 112% to Rs 17,034 crore. Oil India's consolidated profit rose 97% to Rs 4,027 crore, the company said. GAIL's profit doubled to Rs 4,292 crore. Indian Oil posted a loss of Rs 2,661 crore. HPCL lost Rs 12,265 crore and BPCL Rs 3,962 crore, the companies said.

## Coverage

- thehindubusinessline.com <https://www.thehindubusinessline.com/markets/commodities/oil-india-q1-profit-nearly-doubles-to-4027-crore-on-higher-crude-output-and-nrl-performance/article71318522.ece>
- ndtvprofit.com <https://www.ndtvprofit.com/markets/oil-india-q1-results-profit-spikes-72-as-margins-expand-revenue-tops-rs-12-500-crore-11880215>
- rediff.com <https://www.rediff.com/business/report/ongc-q1-fy27-net-profit-jumps-112-to-17034-crore-driven-by-crude-oil-prices/20260805.htm>
- thehindu.com <https://www.thehindu.com/business/Industry/indian-oil-has-crude-supplies-secured-for-entire-august-most-of-september/article71291594.ece>
- thehindu.com <https://www.thehindu.com/business/gail-net-profit-more-than-doubles-with-enhanced-profitability-from-natural-gas-marketing/article71291881.ece>

Tags: Andaman Basin, crude oil production, energy security, Oil India, ONGC, Q1 results
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