Oil India Q3 Results: Profit Slips By A Third, Margin Contracts
Oil India's standalone revenue fell 5.1% sequentially to Rs 5,239.6 crore in the December quarter.
Oil India's standalone net profit fell in the third quarter of financial year 2024-2025.
The state-run oil exploration and production company posted a bottom line of Rs 1,222 crore in the quarter ended Dec. 31, 2024, down 33.4% as compared to Rs 1,834 crore in the preceding quarter.
Revenue down 5.1% at Rs 5,239.6 crore versus Rs 5,246.2 crore.
Ebitda down 2.3% at Rs 2,132.7 crore versus Rs 2,183.3 crore.
Margin at 40.7% versus 41.61%.
Net profit down 33.38% at Rs 1,221.8 crore versus Rs 1834.1 crore.
What Impacted Earnings
Oil India's revenue during the December quarter also fell 5.1% on a sequential basis to Rs 5,239.6 crore, weighed down by an 8% decline in its crude oil segment sales.
The company's crude realisation fell 7% quarter on quarter to $73.8 per barrel, while its gas realisation decreased 2% sequentially to $6.8 per million metric British thermal unit.
The company's margins were slightly impacted due to other expenses rising 11% on a sequential basis.
Production Guidance
The company's margins were slightly impacted due to other expenses rising 11% on a sequential basis.
Oil India's management stated that the company is targeting to produce 3.5 million metric tonnes of crude per annum in FY25. The company also targets 3.6 MMTPA and 4 MMTPA crude production in FY26 and FY27, respectively.
In terms of gas production the company's target for FY25, FY26 and FY27 stand at 3.3, 4 and 5 billion cubic meter, respectively.
