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Oil India Q1 net profit rises 11% to Rs 625 crore

Oil India Q1 results: Standalone revenue from operations slipped marginally to Rs 3,373.36 crore in April-June quarter of the current fiscal, as against Rs 3,390.46 crore in the year-ago period

twitter-logo BusinessToday.In   New Delhi     Last Updated: August 9, 2019  | 20:24 IST
Oil India Q1 net profit rises 11% to Rs 625 crore
Oil India Q1 results: Crude oil production slipped marginally at 0.81 million tonne versus 0.84 million tonne in the year ago period

State-owned Oil India has reported 11.15 per cent year-on-year (YoY) growth in its profit after tax (PAT) at Rs 624.80 crore for the first quarter ended June 30, 2019.

"The oil marketing company had posted a PAT of Rs 703.22 crore during the same quarter last year," Oil India said in a filing to the Bombay Stock Exchange.

Standalone revenue from operations slipped marginally to Rs 3,373.36 crore in April-June quarter of the current fiscal, as against Rs 3,390.46 crore in the year-ago period. The total income decreased to Rs 3,496.10 crore as against Rs 3,517.23 crore in the same quarter last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 3.86 per cent to Rs 1,475.91 crore in Q1FY20 compared to Rs 1,535.17 crore in Q1FY19. EBITDA margin stood at 42.22 per cent versus 43.65 per cent in the year ago period.

On a consolidated basis, Oil India's net profit stood at Rs 847.24 crore and revenue was at Rs 818.26 crore.

Crude oil production slipped marginally at 0.81 million tonne versus 0.84 million tonne in the year ago period. Natural gas production declined to 0.71 billion cubic meters (bcm) from 0.69 bcm in Q1FY19.

Average crude oil price realisation was lower by 7.88 per cent to $66.33 per barrel in Q1FY20 as compared to $72 per BBL during Q1FY19, due to fall in international crude oil prices. Average natural gas price realisation improved to $3.69 per million british thermal units (MMBTU) against $3.06 per MMBTU in the same quarter last year.

Ahead of Q1 earnings, shares of Oil India closed 0.27 per cent lower at Rs 150.30 apiece on the BSE.

Edited by Chitranjan Kumar

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