New Delhi: State-owned oil india Ltd. on Friday reported its highest quarterly net profit in three months to March as it received a price tag of nearly $100 a barrel for oil produced and sold.
OIL’s director (finance) Harish Madhav told reporters here that the net profit in January-March stood at Rs 1,630.01 crore, almost double the profit of Rs 847.56 crore in the same period last year.
This is because the firm received $98.08 for every barrel of crude oil produced and sold in the fourth quarter of FY 2022, compared to $59.80 a barrel a year ago.
For the entire 2021-22 financial year (April 2021 to March 2022) also, the firm reported its highest ever profit of Rs 3,887.31 crore, or Rs 35.85 per share, up from Rs 1,741.59 crore or Rs 16.06 per share. last financial year.
Turnover grew 27 per cent to Rs 4,972.91 crore in the fourth quarter and 55 per cent to Rs 16,427.65 crore in FY22.
“This is the highest ever quarterly and annualized net profit as well as the highest quarterly and annualized turnover ever,” he said.
The country’s second-largest state oil and gas explorer received $2.35 per million British thermal unit gas in 2021-22, compared to $2.09 per mmBtu in 2020-21.
He said the company achieved the highest ever natural gas production of 3.04 billion cubic meters in 2021-22, a growth of 15.25 per cent over the previous year. Natural gas production in the fourth quarter of 2021-22 was also up by 13.1 per cent over the same period last year.
Crude oil production grew by 1.6 per cent to 3.01 million tonnes during 2021-22. In Q4, oil production grew 4.2 percent year-on-year.
The firm made two new hydrocarbon discoveries in the year in Tinsukia district of Assam.
The company’s board recommended a final dividend of Rs 5 per share for the financial year 2012. It had earlier paid an interim dividend of Rs 9.25 per share for the same financial year. The total dividend for the year will be Rs 14.25 per share.
OIL Chairman and Managing Director SC Mishra said the firm has become the first company in the country to commission a pilot plant of 100 kW capacity for production of green hydrogen in Assam.
The plant is based on Anion Exchange Membrane (AEM) technology for production of green hydrogen of 99.99 percent purity.
OIL has also entered into collaboration with start-ups for development of green hydrogen utilities.
OIL’s director (finance) Harish Madhav told reporters here that the net profit in January-March stood at Rs 1,630.01 crore, almost double the profit of Rs 847.56 crore in the same period last year.
This is because the firm received $98.08 for every barrel of crude oil produced and sold in the fourth quarter of FY 2022, compared to $59.80 a barrel a year ago.
For the entire 2021-22 financial year (April 2021 to March 2022) also, the firm reported its highest ever profit of Rs 3,887.31 crore, or Rs 35.85 per share, up from Rs 1,741.59 crore or Rs 16.06 per share. last financial year.
Turnover grew 27 per cent to Rs 4,972.91 crore in the fourth quarter and 55 per cent to Rs 16,427.65 crore in FY22.
“This is the highest ever quarterly and annualized net profit as well as the highest quarterly and annualized turnover ever,” he said.
The country’s second-largest state oil and gas explorer received $2.35 per million British thermal unit gas in 2021-22, compared to $2.09 per mmBtu in 2020-21.
He said the company achieved the highest ever natural gas production of 3.04 billion cubic meters in 2021-22, a growth of 15.25 per cent over the previous year. Natural gas production in the fourth quarter of 2021-22 was also up by 13.1 per cent over the same period last year.
Crude oil production grew by 1.6 per cent to 3.01 million tonnes during 2021-22. In Q4, oil production grew 4.2 percent year-on-year.
The firm made two new hydrocarbon discoveries in the year in Tinsukia district of Assam.
The company’s board recommended a final dividend of Rs 5 per share for the financial year 2012. It had earlier paid an interim dividend of Rs 9.25 per share for the same financial year. The total dividend for the year will be Rs 14.25 per share.
OIL Chairman and Managing Director SC Mishra said the firm has become the first company in the country to commission a pilot plant of 100 kW capacity for production of green hydrogen in Assam.
The plant is based on Anion Exchange Membrane (AEM) technology for production of green hydrogen of 99.99 percent purity.
OIL has also entered into collaboration with start-ups for development of green hydrogen utilities.