Oil India Limited records highest ever PAT of Rs. 3,887.31 cr and Turnover of Rs. 14,530.18 cr for FY2021-22

ameya sathaye
By ameya sathaye May 27, 2022 20:12

Oil India Limited records highest ever PAT of Rs. 3,887.31 cr and Turnover of Rs. 14,530.18 cr for FY2021-22


New Delhi, May 27 Oil India Board in its 532nd Board Meetingheld on 27th May’2022 approved the Q4 FY 2021-22 results. Details of Q4 FY 2021-22 and for the year ended March’2021-22 results

The company reported highest ever Profit After Tax (PAT) of Rs. 3,887.31 crore during 2021-22. This is 123.20% increase over the PAT of Rs.1741.59 Crore during last year. Turnover of Rs14,530.18 Crore during 2021-22 is also the highest ever. The turnover during 2020-21 was Rs.8,604.90 Crore.

Q4 2021-22 also, the Turnover and PAT have increased by 73.85% and 92.32% respectively over Q4 last financial year. Earnings Per Share (EPS) for FY22 increased to Rs.35.85/share from Rs.16.06/share for FY 21.

The consolidated turnover of OIL’s group companies has increased to Rs.30,011.20 crore in 2021-22 from Rs.22,484.13 crore in last financial year. Group PAT of OIL for the year 2021-22 also increased to ₹ 6,719.21 crore from Rs.4,145.97 crore in 2020-21. Average crude oil price realization for 2021-22 improved to US$ 78.96/ barrel from USD 43.98/ barrel in 2020-21, an increase of about 80%. The average natural gas price for 2021-22 was marginally higher at USD 2.35/ MMBTU vis-à-vis USD 2.09/ MMBTU for 2020-21.

The Company has achieved highest ever natural gas production of 3045 MMSCM in 2021-22, increase of 15.25% over last year. Natural gas production in Q4 of 2021-22 was also higher by 13.1% over corresponding period last year.

Crude oil production during 2021-22 also increased by 1.6%, from 2.96 MMT in 2020-21 to 3.01 MMT in 2021-22. The growth in crude oil production in Q4 2021-22 is 4.2% over corresponding period last year. Two new hydrocarbon discoveries were made during 2021-22 in Tinsukia district of Assam.

The Board has recommended a final dividend of Rs.5/share for FY22. The Company has earlier paid interim dividend of Rs.9.25/share for FY 22.  The total dividend for the year will be Rs14.25/ share.

Rating Agency “CRISIL” has assigned the highest long term and short-term ratings to the Company. OIL has become the first company in the country to commission a pilot plant of 100 KW capacity for production of Green Hydrogen in the State of Assam. The plant is based on Anion Exchange Membrane (AEM) technology for production of Green Hydrogen of 99.999% purity. OIL has also entered into collaboration with start-ups for development of green hydrogen utilities.

Four major infrastructure projects were also commissioned in the State of Assam during 2021-22 which will further enhance the oil and gas production capabilities of the company. The Company is currently drilling its deepest onshore well at Sadiya in Assam which will be about 6500 M deep.

OIL has acquired 27 blocks under OALP bidding rounds increasing its E&P acreage by 49,573 SQKM. The company has completed committed Seismic acquisition in 17 of these blocks. The Company is using advanced exploration technologies including ‘Airborne Gravity Gradiometry’ and ‘Gravity-Magnetic Survey and Passive Seismic Tomography’ for seismic data acquisition. The company has also acquired more than 22,500 LKM of 2D seismic data in Andaman offshore under the directive of Government of India.

OIL has been granted two patents during the year for invention of “Method of quantification of low wax crude” and the US Patent for “Method to determine transformation of kerogen to oil/gas at different maturities using step-wise pyrolysis-gas chromatography”.

ameya sathaye
By ameya sathaye May 27, 2022 20:12