Oil India Q1 net profit up 56.19%

Mumbai : Energy exploration and production major Oil India on Monday reported an exponential increase of 56.19 per cent in its standalone net profit for the first quarter of 2018-19.

According to the company, its net profit during the quarter under review rose to Rs 703.22 crore from Rs 450.24 crore reported for the corresponding period of 2017-18.

"Crude Oil price realisation increased by $23.59 per BBl to $72 per BBl in Q1 FY 2018-19 as compared to $48.41 per BBl during Q1 FY2017-18," the company said in a statement.

"Average natural gas price realisation during Q1 FY 2018-19 is $3.06 per MMBTU as
compared to $2.48 per MMBTU in Q1 FY2017-18."