New Delhi: State-owned Oil India Ltd today reported its standalone net profit increase by more than 46 times to Rs 867 crore for the fourth quarter ending March 2018. The company had reported a standalone net profit of Rs 19.31 crore in the corresponding quarter a year ago on account of royalty payment of Rs 1,152 crore made to Assam and Arunachal Pradesh government in that quarter.The company’s total income grew over 14 per cent to Rs 3,785 crore during the quarter ended March 2018, while its expenses grew by 15 per cent to Rs 2,605 crore in the period.
The company’s revenue from sale of crude oil increased 23 per cent to Rs 2,466 crore in the quarter while revenue from natural gas segment increased 8.21 per cent to Rs 395 crore in the period.
Oil India’s consolidated net profit for the full financial year of 2017-2018 increased 71 per cent to Rs 2,735 crore and consolidated total income increased 6.57 per cent to Rs 11,708 crore in the period.
The company’s consolidated revenue from crude oil for the full financial year 2017-2018 increased 17 per cent to Rs 8,539 crore while revenue from natural gas segment fell 6.80 per cent to Rs 1,533 crore during the period.
Oil India’s share price at the Bombay Stock Exchange (BSE) today closed at Rs 221.30, up 1.37 per cent as compared to previous close.