State-owned Oil India Ltd (OIL) reported a 23 per cent drop in its third-quarter web profit as the value of crude oil produced and bought fell.
Net profit was ₹1,221.80 crore in October-December 2024 – the third quarter of April 2024 to March 2025 fiscal (FY25) – in contrast with ₹1,584.28 crore incomes a 12 months again, based on an organization assertion.
The nation’s second-largest state-owned oil and fuel producer received $73.82 for each barrel of oil produced and bought as in opposition to $84.14 per barrel realisation in October-December 2023.
EBITDA got here lower at ₹2,321.34 crore in Q3 when put next with ₹2,613.75 crore of the earlier 12 months. Lower oil prices led to turnover slipping to ₹5,239.66 crore from ₹5,815.02 crore in Q3 of FY24.
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The corporate’s oil and fuel manufacturing was virtually unchanged at 0.868 million tonnes and 0.829 billion cubic meters respectively in October-December 2024. For the primary 9 months of the present fiscal, web profit rose 28 per cent to ₹4,522.71 crore.
“For 9 months ending December 31, 2024, the corporate registered a cumulative hike of 4.10 per cent in its crude manufacturing which elevated to 2.614 million tonnes from 2.511 million tonnes produced within the corresponding interval of FY24,” the assertion stated. “The corporate additionally registered a surge of two.90 per cent in its cumulative fuel manufacturing by finish of Q3 FY25 to 2,446 million customary cubic meters from 2,377 mmscmd registered in the course of the corresponding interval of FY24.
OIL Board advisable an interim dividend of ₹7 per share. With this, the whole interim dividend declared by the corporate until Q3, FY25 is ₹10 per share.
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