OIL net profit jumps 37% in Dec quarter

New Delhi: State-owned Oil India Ltd on Friday reported 37 per cent jump in third quarter net profit as it benefitted from a rise in international oil prices.

Net profit of Rs 1,244.90 crore in October-December 2021 is compared with Rs 903.69 crore net profit a year back, the company said in a statement.

Total income jumped 88 per cent to Rs 4,705.20 crore in the three-month period ended December 31, 2021.

"Average crude oil price realization for Q3 2021-22 is $78.59 per barrel as compared to $44.09 for Q3 of 2020-21, increase of 78.25 per cent," it said.

Also, natural gas price rose to $2.90 per million British thermal unit from $1.79.

Board of OIL declared a second interim dividend of Rs 5.75 per share for 2021-22 which resulted in total interim dividend till date of Rs 9.25 per share for the fiscal year.