OIL records highest ever PAT of `1,746.10 cr in Q3 FY23
New Delhi: Oil India Limited reports highest ever profit after tax (PAT) in Q3 FY23 on strength of better pricing and higher output of Crude Oil and Natural Gas. The company recorded PAT of Rs 1,746.10 crore in Q3 FY23 against Rs 1,244.90 crore in same period of previous fiscal.
For the nine months ended December 31, 2022, profit after tax recorded growth of over 120 per cent to Rs 5,022.12 crore against Rs 2,257.30 crore for same period last year.
The turnover has increased by 27.13 per cent during Q3 FY23 over the turnover of Q3 FY22. For the nine months ended December 31, 2022 turnover has increased by 63.10 per cent over the turnover for the nine months ended December 31, 2021.
The Earnings Per Share (EPS) for Q3 FY23 also increased to Rs 16.10/share from Rs 11.48/share for Q3 FY22. For the nine months ended December 31, 2022, EPS increased to Rs 46.31/share from Rs 20.82/share in similar period last year.
Company’s crude oil production rose by 7.03 per cent to 0.807 MMT in Q3 FY23 against 0.754 MMT for Q3 FY22. Crude Oil production for April-December, 2022 jumped by 5.04 per cent to 2.376 MMT as against 2.262 MMT for the same period in 2021.
Natural Gas production for third quarter of FY23 also grew by 1.64 per cent to 806 MMSCM against 793 MMSCM for Q3 of FY22. Natural Gas production for the period of April-December 2022 increased by 3.85 per cent to 2400 MMSCM compared to 2311 MMSCM for the same period in 2021.
Board of OIL India Limited has declared an second interim dividend of Rs 10 per share (Face Value Rs 10). This is in addition to the 1st interim dividend of Rs 4.50 per share (Face Value Rs 10) declared earlier. The total interim dividend paid during the year is Rs 14.50 per share (Face Value Rs 10).
OIL’s group turnover for the nine months ended December 31, 2022 has recorded a rise of 50.14 per cent to Rs 32,821.47 crore against turnover of Rs 21,859.27 crore for the nine months ended December 31, 2021.
OIL’s Group PAT for April-December, 2022 period is Rs 7,874.65 crore compared to Rs 4,191.89 crore for the same period in 2021, an increase of 87.85 per cent.
