Oil India Results

State-run explorer Oil India reported a bigger-than-expected 40% jump in third-quarter profit on Friday, aided by increased production and better price realisation

Net profit at Rs 1,630.01 crore in January-March was almost double of Rs 847.56 crore profit in the same period of last year, OIL Director (Finance) Harish Madhav told reporters

State-owned Oil India Ltd on Friday reported 37 per cent jump in third quarter net profit as it benefitted from a rise in international oil prices. Net profit of Rs 1,244.90 crore in October-December 2021 is compared with Rs 903.69 crore net profit a year back, the company said in a statement. Total income jumped 88 per cent to Rs 4,705.20 crore in the three-month period ended December 31, 2021. "Average crude oil price realization for Q3 2021-22 is USD 78.59 per barrel as compared to USD 44.09 for Q3 of 2020-21, increase of 78.25 per cent," it said. Also, natural gas price rose to USD 2.90 per million British thermal unit from USD 1.79. While natural gas production rose 18 per cent to 0.793 billion cubic meters in Q3, crude oil production was almost unchanged at 0.75 million tonne. Board of OIL declared a second interim dividend of Rs 5.75 per share for 2021-22 which resulted in total interim dividend till date of Rs 9.25 per share for the fiscal year. For nine months ended Dec

Consolidated total income during the period under review stood at Rs 7,420.13 crore, up from Rs 5,598.55 crore a year ago

Turnover rose to Rs 3,909.61 crore in the fourth quarter of 2020-21 fiscal year from Rs 3,583.72 crore a year back

Out of Rs 227.51 crore, Rs 134.12 crore has been booked during September quarter.

Oil India Ltd on Saturday reported a net loss of Rs 249 crore in the first quarter of current fiscal year as compared to a net profit of Rs 625 crore in Q1 FY20

It had reported a pre-tax profit of Rs 89.22 crore in the corresponding period of 2018-19

The company realised crude oil at $61.30 per barrel during the September quarter

Analysts on average had expected the company to post a profit of Rs 430 crore

This is despite posting highest-ever crude oil production of 3.277 million tonnes

It was hurt by one-time charge on pre- & post-discount price of crude oil paid to a state govt