OIL registers 56.19 % growth for ‘profit after tax’ at Rs.703.22 crores in 2018-19

137

Oil India Limited (OIL) , the premier Navaratna Company of the country registered a spectacular results for the first quarter FY ( Financial Year) 2018-19, which were declared in its 493rd board meeting held on August 13 last.

The Profit After Tax( PAT) saw a staggering 56.19 % growth at Rs. 703.22 crores compared to PAT of Rs. 450.24 crore during Q-1 2017-18. The crude oil production remained the same at 0.844MMT which is the same for crude oil production during Q 1 FT 2017-18.

The Natural Gas production during Q1 FY 2018-19 decreased by 3.87 % to 696 MMSCM compared to 724 MMSCM during Q 1FY 2017-18 due to short upliftment by certain consumers.

The crude oil price realization increased by US $ 23.59/BBL to US $ 72.00/ BBL in Q1 2018-19 compared to US $ 48.41/ BBL during Q1 FY 2017-18. The company has received ‘ Nil’ comment from CAG for FY 2017-18 accounts, for the 16th consecutive year.

The company in consortium with Assam Gas Compmnay and GAIL Gas Ltd has been allocated two geographical areas , namely Cachar , Hailakandi and Karimganj districts and Kamrup and Kamrup 9 Metro) district in Assam in recently concluded 9th round of City Gs Distribution (CCD) bidding by PNGRB.

OIL has also partnered with ONGC, IOCL, GAIL and NRL to form a JV company named “ Indradhanush Gas Grid Limited” with equal contribution to construct Gas Grid infrastructure covering 1450 Km of pipeline to connect eight North Eastern states from Guwahati.

You might also like
Comments
Loading...