Oil India's net profit rises by 206% to Rs 1,555.49 cr in Q1 FY23

New Delhi: Oil India Limited (OIL) has reported 206 per cent increase in Profit After Tax (PAT) during Q1 FY23 at Rs 1,555.49 crore from Rs 507.94 crore in Q1 FY22.

The turnover has increased by 96.36 per cent to Rs 6,029.86 crore during Q1 FY23 vis-à-vis Rs 3,070.78 crore in

Q1 FY22. The Earnings Per Share (EPS) for Q1 FY23 also increased to Rs 14.34/share from Rs 4.68/share for Q1 FY22.

The company realised average crude price of $112.73 / bbl in Q1 FY23 vis-à-vis $67.15 / bbl in Q1 FY22. Average Natural Gas price for Q1 FY23 also increased to $6.10 / MMBTU vis-à-vis $1.79 / MMBTU during Q1 FY22.

The firm has reported increase of 4.14 per cent in its Crude Oil production for Q1 FY23 to 0.779 MMT vis-à-vis 0.748 MMT of production in Q4 FY22 as well as

Q1 FY22.

Natural Gas production for Q1 FY23 was also higher at 771 MMSCM vis-à-vis 734 MMSCM in Q4 FY22 and 711 MMSCM in Q1 FY22, registering increase of 5.04 per cent sequentially and 8.44 per cent over corresponding quarter last year.

OIL's group turnover has recorded rise of 86.51 per cent increase to Rs 11,566.93 crore in Q1 FY23 from Rs 6,201.88 crore in Q1 FY22.

Group PAT of OIL for Q1 FY23 also increased to Rs 3,230.23 crore from Rs 1,214.65 crore in Q1 FY22.