New Delhi, Feb 14: Oil India Limited, a leading fully integrated oil & gas Maharatna CPSE,announced its financial results for the nine months that ended December 31, 2023. The company demonstrated resilience and agility in a dynamic market environment, achieving significant milestones across key performance indicators.OIL’s EBITDA for the nine months ended December 31, 2023, rose to ₹8,474.47 crorefrom ₹8,399.17 crore during the corresponding period last year, the EBITDA margin also improved to 47.28% vis-à-vis 44.96%.The Earnings Per Share (EPS) during the period is ₹ 32.49/share.
On the operational front, OIL achieved a commendable 5.68% increase in Crude Oil production, reaching 2.511 MMT compared to 2.376 MMT in the same period last year. Furthermore, the crude oil production is higher by 6.07% in the Quarter ended 31st December 2023 YoYhighlighting company’s operational efficiency and resource optimization.Natural Gas production during Q3 FY24 increased by 2% over Q3 FY23.
Crude Oil price realization for the nine months ended 31st December 2023 is US$ 82.89 / bbl vis-à-vis US$ 100.27 / bbl for the same period last year.Lower crude oil price realization and lower crude throughput of Numaligarh Refinery Limited on account of turnaround maintenanceled to lower group turnover at₹ 26,137.84 crore vis-à-vis ₹ 32,261.71 crore for the said period.Details of the result are as follows:
The details of the result are as follows:
| Details | Unit | Q3 2023-24 | Q3 2022-23 | Nine Months 2023-24 | Nine Months 2022-23 | ||
| A. Financial | |||||||
| Total Income | Rs. Crores | 6,323.02 | 5,981.63 | 17,924.37 | 18,682.30 | ||
| Turnover | Rs. Crores | 5,815.02 | 5,876.44 | 16,373.06 | 17,613.41 | ||
| Net Profit | Rs. Crores | 1,584.28 | 1,746.10 | 3,523.02 | 5,022.12 | ||
| Earnings per share | Rs. | 14.61 | 16.10 | 32.49 | 46.31 | ||
| EBITDA | Rs. Crores | 2,613.75 | 2,957.47 | 8,474.47 | 8,399.17 | ||
| EBITDA Margin | %age | 41.34% | 49.44% | 47.28% | 44.96% | ||
| B. Crude Oil Price | |||||||
| Crude Oil Price Realization | USD/Barrel | 84.14 | 88.33 | 82.89 | 100.27 | ||
| C. Production* | |||||||
| Crude Oil | MMT | 0.856 | 0.807 | 2.511 | 2.376 | ||
| Natural Gas | BCM | 0.822 | 0.806 | 2.377 | 2.400 | ||
| Oil + Oil equivalent | MMTOE | 1.678 | 1.613 | 4.888 | 4.776 | ||
| D. Sales* | |||||||
| Crude Oil | MMT | 0.847 | 0.772 | 2.448 | 2.312 | ||
| Natural Gas | BCM | 0.649 | 0.610 | 1.816 | 1.808 | ||
| Sale of Purchased Natural Gas | BCM | 0.027 | 0.032 | 0.055 | 0.082 | ||
| Oil + Oil equivalent | MMTOE | 1.523 | 1.414 | 4.319 | 4.202 | ||
| *includes OIL’s share in joint ventures. **figures of previous periods have been regrouped/ reclassified, wherever necessary | |||||||
