OIL India’s 4th Quarter Net Profit Jumps 46 Times to INR 867 crore

State-owned Oil India Ltd headquartered in Assam’s Duliajan has reported its standalone net profit increase by more than 46 times to Rs 867 crore for the fourth quarter ending March 2018. The company had reported a standalone net profit of Rs 19.31 crore in the corresponding quarter a year ago on account of royalty payment of Rs 1,152 crore made to Assam and Arunachal Pradesh governments in that quarter, reports The Business Standard .The psu’s total income grew over 14 per cent to Rs 3,785 crore during the quarter ended March 2018, while its expenses grew by 15 per cent to Rs 2,605 crore in the period.

The company’s revenue from sale of crude oil increased 23 per cent to Rs 2,466 crore in the quarter while revenue from natural gas segment increased 8.21 per cent to Rs 395 crore during the period.

Oil India Limited (OIL) has recorded a growth of 72.27 per cent in profit after tax (PAT) during 2017-18 at Rs 2,667.93 crore as compared to PAT of Rs 1,548.68 crore during 2016-17.For the fourth quarter (Q4) of the financial year 2017-18, PAT stood at Rs 866.50 crore as against Rs 19.31 crore for the corresponding period last financial year.The Oil India board in its 490th board has approved the Q4 and 2017-18 results. Earnings before interest, tax, depreciation and amortisation (EBITDA) margin were calculated at 44.4 per cent in 2017-18, as compared to 42.7 per cent in 2016-17. Oil India Limited is the second largest hydrocarbon exploration and production public sector company in India with its operational headquarters in Duliajan, Assam, India under the administrative control of the Ministry of Petroleum and Natural Gas.Crude oil production registered appreciable growth. Oil India’s consolidated net profit for the full financial year of 2017-2018 increased 71 per cent to Rs 2,735 crore and consolidated total income increased 6.57 per cent to Rs 11,708 crore in the period. The company’s consolidated revenue from crude oil for the full financial year 2017-2018 increased 17 per cent to Rs 8,539 crore while revenue from natural gas segment fell 6.80 per cent to Rs 1,533 crore during the period. Oil India’s share price at the Bombay Stock Exchange (BSE) today closed at Rs 221.30, up 1.37 per cent as compared to previous close.57 per cent in 2017-18 to 3.394 MMT as compared to 3.277 MMT during 2016-17,and official statement said. Crude oil price realisation increased by US$8.36 per BBL to US$55.72 per BBL in 2017-18 as compared to US$47.36 per BBL during 2016-17.Natural gas price realisation during 2017-18 declined to US$2.69 MMBTU from US$2.78 MMBTU in financial year 2016-17.The company has also proposed a final dividend of Rs 1 per share for 2017-18 on post- bonus equity share capital. This is in addition to interim dividend of Rs 14 per share paid earlier on pre-bonus equity share capital, the statement added.

 

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