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OIL reports PAT of Rs 238.95 crore for September quarter of FY21

OIL reports PAT of Rs 238.95 crore   for September quarter of FY21
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New Delhi: Oil India Board in its 516 th Board Meeting held on November 9, 2020 approved the Q2 and H1 FY2020-21 results.

The company reported its Profit After Tax (PAT) for September quarter (Q2) of FY2020-21 at Rs 238.95 crore against the reported net loss of Rs 248.61 crore during Q1 of FY2020-21. The PAT during Q2 FY2019-20 was Rs 627.23 crore.

Company's EBIDTA for Q2 FY2020-21 improved to Rs 848.48 crore as against Rs 327.76 crore during Q1 FY2020-21. EBIDTA during Q2 FY2019-20 was Rs 1510.76 crore. EBIDTA margin reduced to 37.21 per cent in Q2 FY2020-21 from 43.39 per cent in Q2 FY2019-20.

The financial performance during Q2 FY2020-21 was adversely affected due to sharp fall in oil and gas price realizations.

Average Crude Oil price realisation during Q2 FY2020-21 was $42.74/bbl which was lower by 30.28 per cent as compared to crude Oil price realisation of $61.30/bbl during Q2 FY2019-20.

Average natural gas price realisation during Q2 FY2020-21 is at $ 2.39/MMBTU as compared to $ 3.69/MMBTU in Q2 FY2019-20.

Crude Oil production for Q2 FY2020-21 is 0.746 MMT. Natural gas production during same period is 638 MMSCM.

Crude oil and natural gas production during H1 FY2020-21 was 1.498 MMT and 1320 MMSCM respectively.

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