Oil India declined 1.78% to Rs 162.40 after consolidated net profit tumbled 38% to Rs 661.53 crore on 14.3% decline in net sales to Rs 3,221.20 crore in Q2 September 2019 over Q2 September 2018.
On a standalone basis, net profit fell 27.24% to Rs 627.23 crore on 14.16% decline in net sales to Rs 3,213.61 crore in Q2 September 2019 over Q2 September 2018.
EBITDA fell 14.28% to Rs 1510.76 crore in Q2 September 2019 over Rs 1762.45 crore in Q2 September 2018. EBITDA margin decreased to 43% in Q2 September 2019 compared with 44% in Q2 September 2018. The result was released on Saturday, 9 November 2019.
Due to fall in international crude oil prices, the average crude oil price realization tumbled 16.50% to $61.30 per barrel in Q2 September 2019 as against $73.42 per barrel in Q2 September 2018.
The total production of oil & oil equivalent registered a 1.63% fall to 1.563 million tonne of oil equivalent from 1.589 million tonne of oil equivalent. Total sales of oil & oil equivalent also witnessed a 1.69% drop to 1.451 million tonne of oil equivalent in Q2 September 2019 as against 1.476 million tonne of oil equivalent in Q2 September 2018.
Oil India is engaged in providing crude oil and natural gas. The company's segments include crude oil, natural gas, LPG, pipeline transportation and others. The Government of India held 59.57% stake as on 30 September 2019.
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