Oil India Limited Records Highest Ever PAT in Q3 FY 23

Oil India Limited Board in its 540th Board Meeting held on Friday approved the Q3 FY 2022-23 results.

Details of Q3 FY 2022-23 results are as follows:

1.   Highest ever profit after tax in Q3 FY-23 on strength of better pricing and higher output of Crude Oil and Natural Gas.

2.   Profit after tax for Q3 FY-23 is Rs 1,746.10 crore vis-à-vis Rs 1,244.90 crore for Q3 FY-22. For the nine months ended 31st December 2022, profit after tax recorded growth of over 120% to Rs 5,022.12 crore vis-à-vis Rs 2,257.30 crore for similar period last year.

3.   The turnover has increased by 27.13% during Q3 FY-23 over the turnover of Q3 FY-22. For the nine months ended 31st December 2022 turnover has increased by 63.10% over the turnover for the nine months ended 31st December 2021.

4.   The Earnings Per Share (EPS) for Q3 FY-23 also increased to Rs 16.10/share from Rs 11.48/share for Q3 FY-22. For the nine months ended 31st December 2022, EPS increased to Rs 46.31/share from Rs 20.82/share in similar period last year.

5.   Growth in Crude Oil production by 7.03 % to 0.807 MMT vis-à-vis 0.754 MMT for Q3 FY-22. Crude Oil production for the nine months ended 31st December 2022 is 2.376 MMT vis-à-vis 2.262 MMT for the period ended 31st December 2021, increased by 5.04%.

6.   Natural Gas production for Q3 FY-23 also grew by 1.64% to 806 MMSCM vis-à-vis 793 MMSCM for Q3 last year. Natural Gas production for the nine months ended 31st December 2022 is 2400 MMSCM vis-à-vis 2311 MMSCM for the nine months ended 31st December 2021, increased by 3.85%.

7.  Board of OIL has declared an 2nd 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).  

8.  OIL’s group turnover for the nine months ended 31^st December 2022 has recorded a rise of 50.14% to ₹32,821.47 crore vis-à-vis turnover of Rs 21,859.27 crore for the nine months ended 31^st December 2021.

9.  OIL’s Group PAT for the nine months ended 31^st December 2022 is Rs 7,874.65 crore vis-à-vis Rs 4,191.89 crore for the nine months ended 31^st December, 2021, an increase of 87.85%.

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