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Oil India registers 56.19% growth at Rs.703.22 cr

Oil India registers 56.19% growth at Rs.703.22 cr

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  16 Aug 2018 7:05 AM GMT

GUWAHATI: Oil India Limited, the Premier Navaratna Company of the country, registered spectacular results for the first quarter of the financial year of 2018-19. Declared during its 493rd board meeting held on Monday, the Profit After Tax (PAT) saw a staggering 56.19% growth at Rs.703.22 crores compared to PAT of Rs.450.24 crores during q1 2017-18, a press release stated on Tuesday.

The crude oil production remained the same at 0.844 MMT which is the same for crude oil production during Q1 FY 2018-19 decreased by 3.87% to 696 MMSCM compared to 724 MMSCM during Q1 FY 2017-18 due to short upliftment by certain consumers. The crude oil production realisation increased by US $ 23.59/BBL to US $ 72.00/BBL in Q1 FY 2018-19 compared to US $ 48.41/BBL during Q1 FY 2017-18. The average natural gas price realisation during FY 2018-19 was US $ 3.06/MMBTU as compared to US $ 2.48/MMBTU in Q1 FY 2017-18. The company has received “NIL” comments from Comptroller & Auditor General of India for FY 2017-18 accounts for 16th consecutive year.

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