AgenciesOil India's quarterly profit rose 10% on high oil and gas prices. Profit for the Jan-March quarter rose to Rs 1,788 crore from Rs 1,630 crore in the year-ago period. Revenue rose 26% to Rs 5,650 crore from Rs 4,479 crore.
The company's gains on high crude prices were limited by the government's windfall tax that was imposed last July. The company reported an excise duty outgo of Rs 252 in the Jan-March quarter compared to nearly nothing in the year-ago period. The excise duty in the October-December quarter was Rs 503 crore.
Profit for the full year 2022-23 rose 75% to Rs 6,810 crore from Rs 3,887 crore in the previous year. Annual revenue climbed 60% to Rs 23,273 crore from 14,530 crore.
In the fourth-quarter, the operating profit from crude oil dropped to Rs 1,474 crore from Rs 2,089 crore a year earlier. The operating profit from natural gas jumped to Rs 824 crore from Rs 77 crore.
The company declared a final dividend of Rs 5.5 per share. Shares in Oil India closed little changed on Wednesday at Rs 269.55 apiece on BSE when benchmark sensex closed 0.34% lower.
The company's gains on high crude prices were limited by the government's windfall tax that was imposed last July. The company reported an excise duty outgo of Rs 252 in the Jan-March quarter compared to nearly nothing in the year-ago period. The excise duty in the October-December quarter was Rs 503 crore.
Profit for the full year 2022-23 rose 75% to Rs 6,810 crore from Rs 3,887 crore in the previous year. Annual revenue climbed 60% to Rs 23,273 crore from 14,530 crore.
In the fourth-quarter, the operating profit from crude oil dropped to Rs 1,474 crore from Rs 2,089 crore a year earlier. The operating profit from natural gas jumped to Rs 824 crore from Rs 77 crore.
The company declared a final dividend of Rs 5.5 per share. Shares in Oil India closed little changed on Wednesday at Rs 269.55 apiece on BSE when benchmark sensex closed 0.34% lower.
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