Within the last two weeks, the prices of diesel and petrol have been increased 4 times. Just a few days before this, India’s Petroleum Minister Hardeep Singh Puri had said that oil companies were incurring a loss of at least Rs 1,000 crore every day. Within a few days of his statement, oil prices started increasing. Now the data of the last quarter i.e. January to March shows that the major oil companies of India have earned a profit of Rs 19470 crore in 3 months. This means that the three major companies together have made a profit of about Rs 216 crore every day.
The major companies with government stake in India are Indian Oil, Bharat Petroleum and Hindustan Petroleum. They have 90 percent of the market, that is, these companies sell 90 percent of the oil in India. You also often find petrol pumps of these companies. Despite the rising prices of crude oil, attacks on Iran, Israel and America, these companies have made huge profits. However, it is important to see that Iran was attacked by Israel and America in late February and these figures are till March 31. Petroleum Minister Hardeep Singh Puri had talked about the losses of oil companies in the second week of May, which means there is a huge difference in the timing of both.
Also read: Petrol and diesel prices increased for the fourth time in 10 days, know the new rates.
How much was the profit?
It is important to understand here that before the attack on Iran on February 28, the price of one barrel of crude oil was $ 72, which reached $ 120 after the attack i.e. on March 9. Now it has started decreasing slightly and the price of crude dollar has again come below 100 dollars. If we look at these three major companies, they had earned a profit of Rs 33601.57 crore in 2024-25 and Rs 77,280.65 crore in 2025-26. Crude oil was cheap then but oil prices were not reduced in India.
Now if we talk about the last quarter, Hindustan Petroleum has said that it had made a profit of Rs 4901.50 crore. Last year, in the same quarter i.e. fourth quarter, its profit was Rs 3355 crore. Talking about the whole year, Hindustan Petroleum has made a profit of Rs 17175.23 crore in 2025-26 and this is 133.2 percent more than last year’s Rs 7365 crore.
Also read: Crude oil was cheap, still the price was not reduced, how much profit did the companies earn?
Similarly, the largest company Indian Oil earned a profit of Rs 11377 crore between January and March. Its profit during the year was Rs 36802.42 crore whereas last year its profit was only Rs 12961.57 crore. Bharat Petroleum’s profit has increased by 75.54 percent compared to last year. Last year its profit was Rs 13275 crore, which has increased to Rs 23303 crore this year. It has made a profit of Rs 3191 crore between January and March.
However, it is also being said that the losses to the companies started from the month of April. In such a situation, it is expected that loss figures will be visible in the first quarter of 2026-27.
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