Oil India Q1 Net Profit Hikes 4% To Rs 1,613 Crore

New Delhi, Aug 09: Oil India Limited, accorded Maharatnastatus recentlyby the Govt. of India, posted a rise of 3.7% in its Profit after Tax in the first quarter of FY 24at ₹1,613.43 crore against ₹1,555.49 crore in Q1 of last FY.

The growth comes on the strength of a5.3% growth in its crude oil productionto 0.820 MMT in Q1 of FY 24 vis-à-vis 0.729 MMT produced in Q1 of last FY, coupled with lower operatingcosts.The Earnings Per Share (EPS) for the period ended 30th June 2023 has increased to ₹ 14.88/share as compared to ₹ 14.34/share in the previous comparative period, while the EBITDA margin for the period ended 30th June 2023 has increased to 53.49% as compared to 44.76% in the previous comparative period, an increase of 19.51%.

Oil India Board, in its 545^thBoard Meeting held on 08th August 2023, approved the Q1 FY24 results for period ending 30th June 2023. Details of Q1 FY24 results are as follows.

Details	Unit	Q1 2023-24	Q1 2022-23
Details	Unit	Q1 2023-24	Q1 2022-23
A. Financial
Total Income	Rs. Crore	4,978.80	6,029.86
Turnover	Rs. Crore	4,644.73	5,964.09
Net Profit	Rs. Crore	1,613.43	1,555.49
Earnings per share	Rs. / share	14.88	14.34
EBITDA	Rs. Crore	2,662.98	2,698.67
EBITDA Margin	%age	53.49%	44.76%

B. Crude Oil Price
Crude Oil Price Realization	USD/Barrel	76.85	112.73

C. Production
Crude Oil	MMT	0.820	0.779
Natural Gas	BCM	0.745	0.771
Oil + Oil equivalent	MMTOE	1.565	1.550

D. Sales
Crude Oil	MMT	0.747	0.764
Natural Gas	BCM	0.544	0.594
Oil + Oil equivalent	MMTOE	1.291	1.358