Oil India’s Q3 net profit up 26.58 percent

February 5th, 2011 - 10:00 pm ICT by IANS  

Mumbai, Feb 5 (IANS) State-run Oil India Saturday reported an increase of 26.58 percent in its net profit, which stood at Rs.907.98 crore in the third quarter of the current fiscal as compared to Rs.717.28 crore in the same period last fiscal.”The company has posted a net profit after tax of Rs.9,079.80 million for the quarter ended Dec 31, 2010 as compared to Rs.7,172.80 million for the quarter ended Dec 31, 2009,” the company said in a regulatory filing.

The cumulative net profit for the first nine months of the current fiscal year rose by 6.68 percent at Rs.2,325.1 crore from Rs.2,179.5 crore in the third quarter of fiscal 2009-10.

“Total income has increased from Rs.22,641.30 million for the quarter ended Dec 31, 2009 to Rs.27,507.50 million for the quarter ended Dec 31, 2010,” the regulatory filing said.

Segment-wise the company’s crude oil revenues increased to Rs.2,047.49 crore as against Rs.1,843.57 crore in the like period of last fiscal. Meanwhile revenues from natural gas also increased to Rs.318.05 crore from Rs.163.97 crore in the third quarter of fiscal 2009-10.

Meanwhile, the company reported that it discounted products under government subsidies of around Rs.1,687.65 crore in the period of April-December in fiscal 2010-11 from Rs.878.75 crore in the like period of fiscal 2009-10.

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