Oil India records PAT of Rs 505 crore in Q2 FY22

Oil India reported a standalone net profit of Rs 504.46 crore in Q2 FY22 as against a net profit of Rs 238.95 crore in Q2 FY21, registering a growth Rs 111.1% on a YoY basis.

Turnover rose by 52.9% YoY to Rs 3,311.18 crore during the quarter.

EBITDA in Q2 FY22 was Rs 1,280.99 crore, up by 51% from Rs 848.48 crore in Q2 FY21. EBITDA margin was 34.82% in Q2 FY22 as against 37.21% in Q2 FY21.

While crude oil production rose 1.9% to 0.760 MMT, sales of crude oil increased by 2.1% to 0.739 MMT in Q2 FY22 over Q2 FY21.

Production and sales of natural gas in the second quarter was 0.807 BCM (up 26.5% YoY) and 0.674 BCM (up 21.9% YoY), respectively.

Crude oil price realization was $71.35 per barrel in Q2 FY22 as against $42.74 per barrel in Q2 FY21, up 66.9% YoY.

Oil India is a state-owned Navratna under the administrative control of India's Ministry of Petroleum and Natural Gas. As of 30 September 2021, the Government of India held 56.66% stake in Oil India.

The scrip fell 1% to currently trade at Rs 219.90 on the BSE.

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