Staff Reporter
GUWAHATI: Oil India Limited in its 510th board meeting held here on Monday has declared an interim dividend of 90% (Rs 9 per share) for the financial year 2019-20. The board also approved the Q3 and 9M FY 2019-20 results.
The Profit After Tax (PAT) for 9M FY 2019-20 stood at Rs 1,658.42 crore as compared to PAT of Rs 2,798.68 crore in 2018-19. PAT for Q3 FY 2019-20 is Rs 406.39 crore as compared to PAT of Rs 1,233.45 for Q3 FY 2018-19.
The company’s production of crude oil and natural gas during Q3 FY 2019-20 was adversely affected on account of environmental issues. Crude oil production for Q3 FY 2019-20 is 0.747 MMT which is 10.86% lower than the production of 0.383 MMT in 2018-19. Crude oil production for 9M FY 2019-20 is 2.376 MMT which is 6.37% lower than the crude oil production of 2.538 MMT during 9M FY 2018-19.
Due to fall in international crude oil prices, average crude oil price realization is lower by 9.96% to US$ 63.62/BBL in 9M FY 2019-20 as compared to US$ 70.66/BBL during the previous year.