Oil India Ltd has reported an 11.67 per cent jump in its net profit to Rs. 1,013.98 crore in the quarter ended December 31. This was on account of growth in production, higher realisation of crude oil and natural gas price, increase in transportation tariff and higher interest income.
Last year the company had reported a net profit of Rs 907.98 crore for the corresponding period.
The board announced a second interim dividend of 100 per cent, that is, Rs 10 per share for the financial year 2011-12. This is in addition to the interim dividend of 250 per cent declared on December 21, 2011.
The board has also recommended issuance of 3:2 bonus shares, that is, three shares for every two shares held, subject to approval of the shareholders.
Net sales climbed 4.5 per cent Rs 2,496.29 crore (Rs 2,388.65 crore) in the year-ago period. The gross realisation of crude oil for the period under review was $110.07 per barrel, against $85.68 in the corresponding quarter last fiscal.