Oil India Q1 PAT slides 9% YoY to Rs 1,467 cr

The petroleum business company reported 9.09% decline in standalone net profit to Rs 1,466.84 in Q1 FY25 as compared to Rs 1,613.43 crore posted in Q1 FY24.

However, revenue from operations (excluding excise duty) jumped 17.67% to Rs 5,331.92 crore in Q1 FY25 from Rs 4531.18 crore reported in the same period a year ago.

On segmental front, the companys revenue from crude oil stood at Rs 4,207.96 crore (up 25.06% YoY), revenue from natural gas was at Rs 1,421.97 crore (up 27.74% YoY), income from LPG came in at Rs 48.21 crore (up 20.31% YoY), revenue from pipeline transportation stood at Rs 125.34 crore (up 35.9% YoY) and income from renewable energy was at Rs 36.19 crore (up 4.63% YoY) during the period under review.

Profit before tax was at Rs 1974.99 crore in the June quarter, down 5.94% as against Rs 2099.68 crore posted in Q1 FY24.

EBITDA declined 1.32% to Rs 2,627.75 in Q1 FY25 from Rs 2662.98 crore reported in Q1 FY24. EBITDA margin reduced to 43.79% in Q1 FY25 as compared to 53.49% reported in the corresponding quarter previous year.

The company's realised crude oil price stood at $84.89/ bbl in Q1 FY25 as against $76.85/ bbl registered in Q1 FY24.

The firms crude oil production increased by 6.22% to 0.871 million metric tons (MMT) in Q1 FY25, as against 0.820 MMT recorded in Q1 FY24.

Natural gas production for Q1 FY25 grew by 9.8% to 0.818 billion cubic meters (BCM), compared to 0.745 BCM reported in Q1 FY24.

Oil India is a state-owned Maharatna under the administrative control of India's Ministry of Petroleum and Natural Gas. As of 30 June 2024, the Government of India held 56.66% stake in the company.

The scrip rallied 5.90% to Rs 648.85 on the BSE.

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