Oil India jumps after robust Q4 results

Oil India rose 4.27% to Rs 230.75 at 9:56 IST on BSE after the company reported strong Q4 March 2018 results after market hours yesterday, 28 May 2018.

Meanwhile, the S&P BSE Sensex was down 25.05 points, or 0.07% to 35,140.43.

On the BSE, 51,000 shares were traded in the counter so far compared with average daily volumes of 1.39 lakh shares in the past one quarter. The stock had hit a high of Rs 232.35 and a low of Rs 222.85 so far during the day. The stock hit a 52-week high of Rs 259.36 on 12 January 2018. The stock hit a 52-week low of Rs 172.09 on 3 July 2017.

Oil India reported net profit of Rs 866.50 crore in Q4 March 2018, steeply higher than net profit of Rs 19.31 crore in Q4 March 2017. Net sales rose 19.4% to Rs 2998.44 crore in Q4 March 2018 over Q4 March 2017.

The company had accounted royalty payment of Rs 1152 crore made to Assam and Arunachal Pradesh government in Q4 March 2017.

During the fourth quarter of the financial year 2017-2018, the per barrel realisation (price at which Oil India sold the crude it discovered) rose to $64.93 a barrel. This was $52.50 a barrel in the same quarter of the financial year 2016-2017.

Oil India is engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. It also provides various E&P related services and holds 26% equity in Numaligarh Refinery.

The Government of India held 66.133% stake in Oil India as per the shareholding pattern as on 31 March 2018.

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