Oil India Q1 net profit up 56.19%

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Mumbai, Aug 13 (IANS) Energy exploration and production major Oil India on Monday reported an exponential increase of 56.19 per cent in its standalone net profit for the first quarter of 2018-19.

According to the company, its net profit during the quarter under review rose to Rs 703.22 crore from Rs 450.24 crore reported for the corresponding period of 2017-18.

“Crude Oil price realisation increased by $23.59 per BBl to $72 per BBl in Q1 FY 2018-19 as compared to $48.41 per BBl during Q1 FY2017-18,” the company said in a statement.

“Average natural gas price realisation during Q1 FY 2018-19 is $3.06 per MMBTU as

compared to $2.48 per MMBTU in Q1 FY2017-18.”

–IANS

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