OIL registers 72.27 pc growth

Our Staff Correspondent

Dibrugarh, May 30: Oil India Limited (OIL), in its 490th Board Meeting held recently, approved the company’s fourth quarter results as well as the results of the FY 2017-2018. As per a press release of the public limited company, its Profit after Taxation (PAT) for FY 2017-2018 at Rs 2, 667. 93 crore registered an impressive growth of 72.27 per cent as against a PAT of Rs 1548.68 crore during FY 2016-2017. For fourth quarter, its PAT stood at Rs 866.50 crore as against Rs 19.31 crore for the corresponding period last year. The organization’s EBITDA margin was 44.4 per cent for FY 2017-2018 as compared to 42.7 per cent in FY 2016-2017. Moreover, the crude oil production witnessed a growth of 3.57 per cent for FY 2017-18 and stood at 3.394 MMT, as against 3.277 per cent in the previous FY. The crude oil price realization rose by 8.36 US dollar/BBL to 55.72 US dollar/BBL in FY 2017-18 as compared to 47.36 US dollar/BBL during the FY prior to that.

Additionally, natural gas price realization during FY 2017-18 declined to 2.69 US dollar/MMBTU from 2.78 US dollar/MMBTU in FY 2016-17. The company has proposed a final dividend of Rs 1 per share for FY 2017-18 on post bonus equity share capital. The proposed dividend was in addition to the interim dividend of Rs 14 per share paid earlier on pre-bonus equity share capital.