Oil India Q3 results: Net profit increases 3% to Rs 2,608 crore

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26 Aug, 2025 12:21

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Oil India Limited (OIL) on February 13 reported a marginal increase in consolidated net profit at Rs 2,608 crore in the December quarter of financial year 2023-24. The state-run oil producer had posted a net profit of Rs 2,528 crore in the same period a year ago.

OIL's revenue from operations in the third quarter came in at Rs 10,912.61 crore, up 3 per cent from Rs 10,577.58 crore last year.

The company said its earnings before interest, tax, depreciation and amortisation (EBITDA) for the nine months ended December 31 rose to Rs 8,474.47 crore from Rs 8,399.17 crore during the corresponding period last year. Oil India achieved a 5.68 percent increase in crude oil production in the nine months reaching 2.511 million metric tonnes (MMT), compared to 2.376 MMT in the same period last year.

In the quarter under review, the company reported crude production of rose 6.07 percent year-on-year, while natural gas production increased 2 percent.

The company’s crude oil earnings before interest and tax (EBIT) in Q3 of FY24 was Rs 1,430.38 crore, a decline of seven percent from Rs 1,542.73 crore in the corresponding period last year. Meanwhile, EBIT from natural gas segment was Rs 726.69 crore, as against Rs 1,091.21 crore in the previous year.

Crude oil price realization for the nine months ended December 31 was $82.89 per barrel compared to $100.27 per barrel for the same period last year. Lower crude oil price realization and lower crude throughput of Numaligarh Refinery Limited on account of turnaround maintenance led to lower group turnover at Rs 26,137.84 crore, as against Rs 32,261.71 crore in the nine months, the company said in the press release.

Shares of the company settled at Rs 471 per piece on BSE, up 0.45 per cent from the previous day’s close.