State-owned Indian Oil Corporation (IOC) on Friday reported a lower-than-expected loss of Rs 2,661.37 crore in the June quarter as efficiency gains helped limit losses arising from holding fuel prices despite a rise in cost.

Standalone net loss was Rs 2,661.37 crore in April-June - the first quarter of current 2026-27 fiscal year - against a profit of Rs 5,688.60 crore a year back and earnings of Rs 11,377.51 crore in the preceding three months (January-March).