Oil India Q3 Outcomes: Internet revenue of Rs 1,244.90 cr in October-December 2021

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State-owned Oil India Ltd on Friday reported 37 % soar in third quarter internet revenue because it benefitted from an increase in worldwide oil costs.

Internet revenue of Rs 1,244.90 crore in October-December 2021 is in contrast with Rs 903.69 crore internet revenue a yr again, the corporate stated in a press release.

Whole earnings jumped 88 % to Rs 4,705.20 crore within the three-month interval ended December 31, 2021.

“Common crude oil value realization for Q3 2021-22 is USD 78.59 per barrel as in comparison with USD 44.09 for Q3 of 2020-21, improve of 78.25 per cent,” it stated.
Additionally, pure gasoline value rose to USD 2.90 per million British thermal unit from USD 1.79.

Whereas pure gasoline manufacturing rose 18 per cent to 0.793 billion cubic meters in Q3, crude oil manufacturing was virtually unchanged at 0.75 million tonne.

Board of OIL declared a second interim dividend of Rs 5.75 per share for 2021-22 which resulted in whole interim dividend until date of Rs 9.25 per share for the fiscal yr.

For 9 months ended December 31, 2021, OIL internet revenue soared 152 per cent to Rs 2,257.30 crore. Turnover of the corporate elevated to Rs 10,051.57 crore from Rs 6,028.72 crore final yr as much as December 2020.

“The OIL-Assam Gasoline Firm Restricted consortium (OIL-49 per cent and AGCL-51 %) has obtained letter of intent for grant of authorization for growth of metropolis gasoline distribution community in three geographical areas (two in Tripura and one in north financial institution of Assam) within the not too long ago concluded eleventh spherical of CGD bidding spherical,” the assertion added. 

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