Oil India Ltd.'s consolidated net profit rose 2.6% in the second quarter of the current financial year.
The state-run crude oil producer's bottom line decreased sequentially to Rs 2,069 crore in the quarter ended September in comparison to Rs 2,016 crore in the preceding quarter, according to an exchange filing on Tuesday.
Oil India's earnings were mainly impacted by lower crude oil realisations, which were over 8% lower on an annual basis at $79.33 per barrel as compared to $86.86 per barrel a year ago
Oil India Q2 FY25 Earnings Highlights (Consolidated, QoQ)
Revenue down 11% to Rs 7,247 crore versus Rs 8,120 crore.
Ebitda down 19% to Rs 2,536 crore versus Rs 3,142 crore.
Margin narrowed 370 basis points to 35% versus 38.7%.
Net profit up 2.6% to Rs 2,069 crore versus Rs 2,016 crore.
Production
Oil India's total crude oil production stood at 0.88 million tonnes, a 4.7% year on year uptick. Natural gas production declined 1.4% to 0.8 billion cubic metres.
Oil India does maintain its target of 4 million tonnes of crude oil and 5 billion cubic metres of gas production for the medium term, Chairperson Ranjit Rath told NDTV Profit.
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