Oil India Q4 net profit up to Rs 867 crore

Energy exploration and production major Oil India on Monday reported an exponential increase of nearly Rs 848 crore rise in its net profit for the fourth quarter of 2017-18.

According to the company, its net profit during the quarter under review rose to Rs 866.50 crore from Rs 19.31 crore reported for the corresponding period of 2016-17.

In terms of financial year, Oil India reported a rise of 72.27 per cent in its 2017-18 net profit, which increased to Rs 2,667.93 crore from Rs 1,548.68 crore earned in the previous fiscal.

"Crude Oil price realisation increased by $8.36 per BBL to $55.72 per BBL in FY 2017-18 as compared to $47.36 per BBL during FY 2016-17," Oil India said in a statement.

The company proposed a final dividend of Rs 1 per share for FY 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 company said.

--IANS

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