Oil India Ltd Faces Earnings Dip Amid Record Production

State-owned Oil India Ltd reported a significant 21% drop in net profit for the March quarter, citing lower oil and gas prices as the primary cause. The company announced a net profit of Rs 1,591.48 crore for the fourth quarter of 2024-25, a decrease from Rs 2,028.83 crore the previous year, as stated in its stock exchange filing.

Revenue also declined to Rs 6,182.79 crore, down from Rs 6,589.91 crore in the same period last year. However, Oil India Ltd recorded its highest-ever combined oil and gas production of 6.71 million tonnes of oil equivalent in FY25. The company's crude oil production rose 2.95%, with natural gas production increasing by 2.20% compared to the previous fiscal year.

Overall, the company achieved a 10.13% rise in net profit for the full fiscal year, reaching Rs 6,114.19 crore. Capital expenditure utilization saw a substantial 123.07% rise, amounting to Rs 8,467.33 crore. The board of directors recommended a final dividend of Rs 1.50 per equity share, supplementing the interim dividend given throughout the year.

(With inputs from agencies.)