Oil India reports net profit of Rs. 2,584.06 crore for FY 2019-20

Sarkaritel
By Sarkaritel June 27, 2020 07:07


Oil India Board in its 513th Board Meeting held on 26th June, 2020 approved the Q4 and FY 2019-20 results. Details of Q4 and FY 2019-20 results are as follows:

  1. Performance:

 

Details Unit Q4
2019-20
Q4
2018-19
2019-20  2018-19
A. Financial
Total Income ₹ Crore      3,583.72      3,506.11    13,648.71 15,170.00
Turnover ₹ Crore      2,589.56      3,086.89    12,128.52 13,734.96
Net Profit ₹ Crore         925.64       (208.54)      2,584.06    2,590.14
Earnings per share 8.54           (1.86) 23.83 22.88
EBITDA ₹ Crore       (107.28) 1,498.49      4,110.73 6,918.81
EBITDA Margin %age (3.08%) 37.17% 30.12% 45.61%
B. Crude oil Price
Crude Oil Price Realization USD/Barrel 52.18 61.76 60.75 68.50
₹/Barrel      3,776.79      4,352.84      4,307.18   4,789.52
C. Production

 

Crude oil* MMT 0.758 0.784 3.134 3.323
Natural Gas* BCM 0.645 0.703 2.801 2.865
Oil + Oil equivalent MMTOE 1.403 1.487 5.935 6.188
D. Sales

 

Crude oil MMT 0.748 0.777 3.062 3.233
Natural Gas BCM 0.531 0.620 2.403 2.508
Oil + Oil equivalent MMTOE 1.279 1.397 5.465 5.741

  *includes OIL’s production in joint ventures.

 

  1. Highlights: 
  • Crude oil price realisation during Q4 FY20 and FY 2019-20 got adversely affected due to fall in international crude oil prices because of Covid-19 and collapse in understanding between OPEC and Russia on continued production cuts.
  •  Average Crude Oil price realisation was lower by 11.31% to US$ 60.75 /BBL in FY2019-20 as compared to US$ 68.50/BBL during FY2018-19.
  • Average Crude Oil price realisation during Q4 FY2019-20 was USD 52.18/bbl which was lower by 15.51% as compared to crude Oil price realisation of US$ 61.76/BBL during Q4 FY2018-19.
  • Average natural gas price realisation during FY 2019-20 improved to US$ 3.46/MMBTU as compared to US$ 3.21/MMBTU during FY 2018-19.
  • Crude Oil production for FY2019-20 is 3.134 MMT which is 5.69% lower than the crude oil production of 3.323 MMT during FY2018-19. However, production for Q4 2019-20 is 1.48% higher to 0.758 MMT as compared to 0.747 MMT in Q3 2019-20.
  • Natural gas production during FY2019-20 is marginally lower to 2801 MMSCM as compared to 2865 MMSCM during  FY2018-19.
  • Profit After Tax (PAT) for FY2019-20 is ₹ 2,584.06 crore as compared to PAT of ₹ 2,590.14 crore for FY2018-19.
  • EBITDA for FY2019-20 is ₹ 4,110.73 crore which is 40.59% lower as compared to EBITDA of ₹ 6,918.81. crore for FY2018-19.
  • Board of OIL has declared final dividend of 16% i.e ₹ 1.60 per share for 2019-20.
  • OIL has adopted the new concessional tax regime introduced by Section 115BAA of Income Tax Act,1961 for the financial year 2019-20. The effective tax rate under the new regime would be 25.17%. This has resulted in reversal of deferred tax liability of ₹ 821.01 crore during 2019-20.
  • OIL has availed the option of Direct Tax Vivad se Vishwas Scheme, 2020 (“DTVsVS”) for settlement of its pending Income Tax disputes which is pending for approval of designated authority.
  • On 27.05.2020, one of the gas producing well in Baghjan field suddenly became very active while work over operation was on. The effort to control the blowout is going on. Teams of OIL, ONGC and international expert are working to control the well at the earliest. Due to blow out, there is production loss of about 80,000 SCMD of natural gas which is only about 1% of OIL’s daily natural gas production.
Sarkaritel
By Sarkaritel June 27, 2020 07:07