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Business EconomyPosted at: Nov 10 2021 9:33PM


Oil India Q2 net profit surges to ₹504.46 crore

New Delhi, Nov 10 (UNI) Oil India has reported a 111% surge in its net profit to ₹504.46 crore for the quarter ended 30 September, as compared to Rs ₹238.95 crore in Q2 2020-21, according to the financial results declared on Wednesday. For the half year ended on 30 September 2021, PAT is ₹1,012.40 crore vis-à-vis loss of ₹9.66 crore for the half year ended 30 September 2020.

The upstream hydrocarbon explorer registered a turnover of ₹3,311.18 crore in the second quarter of the current fiscal compared with ₹2,165.92 crore recorded in the year-ago period.

The Company’s EBITDA in Q2 2021-22 is ₹1280.99 crore vis-à-vis ₹848.48 crore in Q2 2020-21 and EBITDA for the half year ended on 30th September’2021 is ₹2577.91 crore vis-à-vis ₹1176.24 crore for the half year ended 30th September 2020.

EPS has increased to ₹4.65 per share in Q2 2021-22 as compared to ₹2.20 in Q2 2020-21. For the half year ended on 30th September 2021 EPS is ₹9.34 per share vis-à-vis negative EPS of ₹0.09 per share for the half year ended 30th September 2020.

Board of OIL has recommended an interim dividend of ₹ 3.50 per share for 2021-22.

Average crude oil price realization for Q2 2021–22 is US$ 71.35 / bbl vis-à-vis
US$ 42.75 / bbl for Q2 of 2020-21, which is an increase by 66.90%. Crude oil price realization for the half year ended 3h September 2021 is US$ 69.28/bbl vis-à-vis US$ 36.48/bbl for the half yer ended 30 September, 2020, which is an increase by 89.91%. Crude oil and natural gas production in Q2 2021–22 have improved by 1.78% and 26.38%, respectively as compared to Q2 2020-21.

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