State-owned Oil India Ltd today reported a 56 per cent jump in its April-June quarter net profit on back of higher oil prices.
Net profit in the first quarter of current fiscal rose to Rs 703.22 crore, or Rs 6.20 per share, from Rs 450.24 crore, or Rs 3.84 a share, in the same period of previous financial year, the company said in a regulatory filing.
Revenue from operations rose by about 45 per cent to Rs 3,390.46 crore.
OIL said at Rs 2,777.79 crore it got 53 per cent more revenue from crude oil it sold in the quarter and led to profit from the segment nearly doubling to Rs 1,135.70 crore.
Revenue and pre-tax profit from natural gas sales were up 25 per cent each to Rs 443.08 crore and Rs 118.97 crore, respectively.
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