Oil India Limited records 96.36 percent increase in turnover

STAFF CORRESPONDENT

DIBRUGARH: Oil India Limited (OIL) in its 535th Board Meeting held on August 10, approved the Q1 FY 2022-23, stated in a press release.

The highlights of the Q1 FY 2022-23 results, as mentioned in the press release are, the company has reported a 206 percent increase in Profit After Tax (PAT) during Q1FY23 at Rs.1,555.49 crore from Rs.507.94 crore in Q1FY22. The turnover has increased by 96.36 percent to Rs 6,029.86 crore during Q1FY23 vis-à-vis Rs.3,070.78 crore in Q1 FY 22. The Earnings Per Share (EPS) for Q1FY23 also increased to Rs.14.34/share from Rs.4.68/share for Q1FY22.

The company realized an average crude price of US$112.73 / bbl in Q1FY23 vis-à-vis US$67.15 / bbl in Q1FY22. Average Natural Gas price for Q1FY23 also increased to US$6.10 / MMBTU vis-à-vis US$1.79 / MMBTU during Q1FY22.

The company has reported an increase of 4.14 per cent in its Crude Oil production for Q1FY23 to 0.779 MMT vis-à-vis 0.748 MMT of production in Q4FY22 as well as Q1FY22. Natural Gas production for Q1FY23 was also higher at 771 MMSCM vis-à-vis 734 MMSCM in Q4FY22 and 711 MMSCMD in Q1FY22, registering an increase of 5.04 per cent sequentially and 8.44 per cent over corresponding quarter last year.

OIL's group turnover has recorded a rise of 86.51 per cent to Rs.11,566.93 crore in Q1FY23 from Rs.6,201.88 crore in Q1FY22. Group PAT of OIL for Q1FY23 also increased to Rs.3,230.23 crore from Rs.1,214.65 crore in Q1FY22.

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