Oil India Q2 net up 38% to Rs 1,454 cr on better crude price realisation

Oil India (OIL) reported a consolidated net profit of Rs 1,454.28 crore in the second quarter of FY22, up 37.45 per cent over the Rs 1m058.07-crore bottomline reported by the company in the same quarter a year ago.

A company statement said that the OIL Board has recommended an interim dividend of Rs 3.50 per share for 2021-22.

The consolidated total income during the period under review stood at Rs 7,420.13 crore, up from Rs 5,598.55 crore a year ago.

The higher returns come on the back of improved crude oil price realisation despite flat lining production. According to OIL,