New Delhi, May 21 -- The three state-run oil companies, controlling over 90% of domestic fuel retail market, have registered a combined net profit of Rs.19,470 crore in January-March 2026 quarter, a 40.74% growth over the same period last year, despite the impact of global energy supply disruptions in March. While two oil marketing companies (OMCs), Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL), posted handsome profits after tax in the fourth quarter of 2025-26 (Q4 FY26), Bharat Petroleum Corporation Ltd's (BPCL) net profit remained flat. International oil prices that were around $72 a barrel before the war broke out on February 28, surged over 66.7% to about $120 a barrel on March 9. They, however, softened a ...