Oil India reports highest ever quarterly profit of Rs 1,746 cr in Q3
State-owned Oil India Ltd (OIL) reported its highest ever quarterly net profit in the third quarter ended December 31 on the back of a rise in oil and natural gas prices.
Net profit of Rs 1,746.10 crore, or Rs 16.10 per share, in October-December compared with Rs 1,244.90 crore, or Rs 11.48 a share, in the same period a year back, the company said in a statement.
The rise in profitability was helped by higher realisation on crude oil and gas the firm produces and sells. Also, output increased, helping both topline and bottomline.
