Oil India Q1 profit drops 11% to Rs 625 crore

Sarkaritel
By Sarkaritel August 9, 2019 20:48


New Delhi, Aug 09 : State-owned Oil India Ltd (OIL) on Friday reported an 11 per cent drop in its June quarter net profit as it faced double whammy of falling oil prices and a dip in production.

Net profit in April-June at Rs 624.80 crore was 11.15 per cent lower than Rs 703.22 crore net profit reported in the same period last year, the company said in a statement.

Turnover too was lower at Rs 3,373.36 crore as compared to Rs 3,390.46 crore in the first quarter of the previous year.

Sarkaritel
By Sarkaritel August 9, 2019 20:48