Hydrocarbon explorer Oil India took a sharp knock in the recent March quarter, with profit declining 96 per cent y-o-y. This was primarily due to low gas prices and royalty expenses. The half-yearly revision of domestic gas prices per the formula laid out by the government resulted in the fuel’s price crash nearly 35 per cent y-o-y to just about $2.5 per mmbtu in the recent March period. The oth...