Oil India Q1 net down 40% sequentially

Our Bureau New Delhi | Updated on August 12, 2021

The total income for the quater fell to ₹3,070 crore

Oil India Limited (OIL) on Thursday reported a 40 per cent sequential decline in net profit for the quarter ended June 30, 2021 at ₹508 crore as compared to net profit of ₹848 crore recorded in the previous March quarter.

However, for year-on-year basis, the latest bottomline performance was much better than the one in same quarter last year-- when the company recorded net loss of ₹ 248 crore.

For the quarter under review, total income fell to ₹3,070 crore from ₹3,910 crore in the previous March quarter.

However, total income for the latest quarter was much higher than the total income of ₹1,875 crore recorded in the June quarter last fiscal, the company’s filings with the stock exchanges showed.

Published on August 12, 2021

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