Oil India Q3 Review - Losses at Ebitda Level: IDBI Capital  

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IDBI Capital Report

Oil India Ltd.’s Q3 FY21 revenue was in-line with our estimates while it reported Ebitda loss owing to higher than expected other expenses while tax write-back propelled profit after tax.

Company reported net revenue of Rs 21.3 billion, down 28% YoY. This was due to lower oil and gas price realizations.

Average oil realization was down 30% YoY to $44.1 while gas realization was down 40% YoY to Rs 5.1/standard cubic meter.

Crude oil sales volume was flattish to 0.723 million metric tonne while gas volume was down by 2% YoY to 0.586 billion cubic meter.

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