Oil India’s Q4 profit falls 8% to Rs 847 cr on lower crude production
Oil India Ltd, the nation’s second-largest state oil explorer, on Monday reported 8 per cent drop in March quarter net profit on lower crude oil production.
Net profit in January-March 2021 at Rs 847.56 crore, or Rs 7.82 per share, was lower than Rs 925.65 crore, or Rs 8.54 a share, profit in the same period a year back, the company said in a statement.
The firm got USD 59.80 for every barrel of crude oil in the quarter, up from USD 5.18 a year back. But oil production fell by 5.28 per cent to 0.72 million tonne in January-March 2021.
Gas output was almost flat at 0.649 billion cubic meters.
