The 495th board meeting of Oil India Limited (OIL), held (headquartered) at Duliajan in Dibrugarh district of Assam, declared a net profit (profit after tax) of Rs 862.01 crore for quarter two (April to June) of 2018-19 which was higher by 33.44 per cent as compared to the same period for 2017-18 which was Rs 645.97 crore.
A press communiqué issued by the Navratna company stated that the earnings per share was Rs 7.59 for the period as compared to Rs 5.69 for the same quarter last fiscal. The communique further stated that the profit after tax (PAT) for H1 FY 2018-19 increased by 42.79 per cent to Rs 1,565.23 crore as compared to PAT of
Rs 1,096.21 crore during H1 FY 2017-18.
Crude oil price realisation increased by 47.69 per cent to US dollars 72.75/BBL (barrel) in H1 FY2018-19 as compared to US dollars 49.26/BBL during H1 FY2017-18. Crude price realisation in INR terms was higher by 57.32 per cent to Rs 4,988.47/BBL in H1 FY2018-19 as compared to Rs 3,170.87/BBL during H1 FY2017-18.
The average natural gas price realisation during H1 FY2018-19 was US dollars 3.06/MMBTU (one million British Thermal Units) as compared to US dollars 2.48/MMBTU in H1 FY2017-18. Crude Oil production for the H1 FY2018-19 is 1.70 MMT which is more or less same as the crude oil production of H1 FY2017-18.
Natural gas production during H1 FY2018-19 was down by 3.96 per cent to 1,430 MMSCM as compared to 1,489 MMSCM during H1 FY2017-18 due to short upliftment by certain consumers, the communiqué further said.