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Oil India Q1 net profit drops 34%

Company's total income decreased 22.2% to Rs 2,461 crore during the period under review

State-run India Ltd (OIL) has posted a 33.47 per cent drop in net for the first quarter of the financial year 2016-17 to Rs 494.41 crore, as compared to Rs 743.21 crore during the same period during the financial year 2015-16.

The company’s total income too decreased 22.2 per cent to Rs 2460.85 crore during the period under review, as against Rs 3164.12 crore during the first quarter of financial year 2015-16. The average realised by during the quarter was $43.09 per barrel, which was 25 per cent lower than the price realised during Q1 last year. did not share any subsidy burden during the quarter. In rupee terms, the net crude price realisation during first quarter of 2016-17 was Rs 2,882 a barrel as against Rs 3,644 a barrel last year.

During the quarter, the company’s production was 731 million metric standard cubic meter (MMSCM), which was13.86 per cent higher than the production during the first quarter of the previous fiscal.   Sale of during the quarter was 606 MMSCM, which was 20.7 per cent higher than the sale during the same period last year. On the other hand, the crude production during Q1 was seen at 0.803 MMT, 4.63 per cent lower than last year. 

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Business Standard
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Business Standard

Oil India Q1 net profit drops 34%

Company's total income decreased 22.2% to Rs 2,461 crore during the period under review

Shine Jacob  |  New Delhi 

Image via Shutterstock
Image via Shutterstock

State-run India Ltd (OIL) has posted a 33.47 per cent drop in net for the first quarter of the financial year 2016-17 to Rs 494.41 crore, as compared to Rs 743.21 crore during the same period during the financial year 2015-16.

The company’s total income too decreased 22.2 per cent to Rs 2460.85 crore during the period under review, as against Rs 3164.12 crore during the first quarter of financial year 2015-16. The average realised by during the quarter was $43.09 per barrel, which was 25 per cent lower than the price realised during Q1 last year. did not share any subsidy burden during the quarter. In rupee terms, the net crude price realisation during first quarter of 2016-17 was Rs 2,882 a barrel as against Rs 3,644 a barrel last year.

During the quarter, the company’s production was 731 million metric standard cubic meter (MMSCM), which was13.86 per cent higher than the production during the first quarter of the previous fiscal.   Sale of during the quarter was 606 MMSCM, which was 20.7 per cent higher than the sale during the same period last year. On the other hand, the crude production during Q1 was seen at 0.803 MMT, 4.63 per cent lower than last year. 

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Oil India Q1 net profit drops 34%

Company's total income decreased 22.2% to Rs 2,461 crore during the period under review

Company's total income decreased 22.2% to Rs 2,461 crore during the period under review
State-run India Ltd (OIL) has posted a 33.47 per cent drop in net for the first quarter of the financial year 2016-17 to Rs 494.41 crore, as compared to Rs 743.21 crore during the same period during the financial year 2015-16.

The company’s total income too decreased 22.2 per cent to Rs 2460.85 crore during the period under review, as against Rs 3164.12 crore during the first quarter of financial year 2015-16. The average realised by during the quarter was $43.09 per barrel, which was 25 per cent lower than the price realised during Q1 last year. did not share any subsidy burden during the quarter. In rupee terms, the net crude price realisation during first quarter of 2016-17 was Rs 2,882 a barrel as against Rs 3,644 a barrel last year.

During the quarter, the company’s production was 731 million metric standard cubic meter (MMSCM), which was13.86 per cent higher than the production during the first quarter of the previous fiscal.   Sale of during the quarter was 606 MMSCM, which was 20.7 per cent higher than the sale during the same period last year. On the other hand, the crude production during Q1 was seen at 0.803 MMT, 4.63 per cent lower than last year. 
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Business Standard
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