Oil India Limited has reported a net loss of ₹208.54 crore for the fourth quarter ended March 31, 2019. The company had reported a profit of ₹866.50 crore in same quarter of the previous financial year.
A company official said that the loss is due to provisioning against employee pension scheme (EPS 95). Oil India has reported a one time actuarial deficit of ₹1,026.79 crore, which has been shown as exceptional item against EPS 95 in an official statement to the exchanges.
Total income during the quarter under review fell by 7.37 per cent to ₹3,506.11 crore. The company has recommended a final dividend of 17.50 per cent (₹1.75 on equity share of ₹10 each) for FY 2019.
