Oil India records a 152% increase in Q3 profit

New Delhi: Oil India Board in its 529th Board Meeting held on 11th February 2022 approved the Q3 FY 2021-22 results. Details of Q3 FY 2021-22 and Nine Months results are as follows.

Highlights:
-Oil India Limited has reported 152% growth in the Profit After Tax (PAT) for the period ended 31st December 2021. 
The Company has reported a profit of Rs. 2,257.30 crore in the period as against Rs. 894.03 crore in the Nine months period last year.

-For the third quarter FY 2021-22 also the Company has reported 38% increase in the PAT to Rs. 1244.90 crore. 
The Turnover of the Company has increased to Rs.10051.57 crore from Rs. 6028.72 crore last year upto December.

-Natural Gas production in Q3 2021-22 has improved by 17.83% as compared to Q3 2020-21.
Natural Gas production during 9 months period 2021-22 has also increased by 16% as compared to 9 months period 2020-21. Crude Oil production has broadly remained constant.

-The Company’s EBITDA in Q3 2021-22 is Rs. 2,235.72 crore vis-à-vis Rs. 277.42 crore in Q3 2020-
21 and EBITDA for the nine months ended on 31st December’2021 is Rs. 4,813.63 crore vis-àvis Rs. 1,453.66 crore for the nine months ended on 31st December’2020.

-The company has reported EPS of Rs. 11.48 per share in Q3 2021-22 as compared to Rs. 8.33 in Q3 2020-21. For the nine months ended on 31st December’2021, the EPS is Rs. 20.82 per share vis-à-vis EPS of Rs. 8.24 per share for the Nine months ended 31st December’2020.

-The board of OIL has declared a second interim dividend of Rs. 5.75 per share for FY 2021-22 which resulted in total interim dividend till date of Rs. 9.25 per share (Face Value Rs.10) during the FY 2021-22.
Average Crude Oil price realization for Q3 2021 – 22 is US$ 78.59/ bbl vis-à-vis US$ 44.09/ bbl for Q3 of 2020-21, increased by 78.25%. Crude Oil price realization for the nine months ended on 31st December’2021 is US$ 72.41 / bbl vis-à-vis US$ 38.98 / bbl for the nine months ended 31st December’2020, increased by 85.76%.

-Average Natural Gas price for Q3 2021 – 22 is US$ 2.90 / MMBTU vis-à-vis US$ 1.79 / MMBTU for Q3 of 2020-21 increased by US$ 1.01 / MMBTU. Natural Gas price realization for the nine months ended 31st December, 2021 is US$ 2.16 / MMBTU vis-à-vis US$ 2.19 / MMBTU for the nine months ended 31st December, 2020, decreased by US$ 0.03 / MMBTU.

-The Group Turnover and PAT for the nine months ended 31st December’2021 have increased to Rs. 21,141.49 crore and Rs. 4,191.89 Crore, respectively. 
OIL acquired 39,84,36,929 equity shares in NRL on 26th March, 2021, including 7,74,80,746 shares on behalf of Government of Assam (GoA) at a total investment of Rs. 8,675.96 crore.
The transfer process for entire 7,74,80,746 number of equity shares purchased by OIL from BPCL on behalf of GoA has been concluded on 03rd January 2022. After transfer of GoA shares, OIL presently holds 69.63% stake in NRL Equity.

-The OIL-AGCL (M/s. Assam Gas Company Limited) consortium (OIL-49% & AGCL-51%) has received letter of intent (LOI) for grant of authorization for development of CGD in three geographical areas (two in the state of Tripura and one in north bank of Assam) in the recently concluded 11th round of CGD bidding round launched by PNGRB for development of CGD network.