Oil India’s net profit declines by 32.60% to Rs 1741.59 crore in FY’21

New Delhi: The Board of Directors of Oil India Limited (OIL) in its 522nd board meeting held on June 21 approved the Q4 and FY 2020-21 results. During the financial year FY 2020-21 company’s net profit went down by 32.60 percent to Rs 1741.59 crore against Rs 2,584.06 crore in FY 2019-20.

Oil India performance highlights for Q4FY’21 and FY 2020-21

In the fourth quarter (Q4) of FY 2020-21, the company has reported a significant increase in EBITDA at Rs 1,754.83 crore as compared to negative EBITDA in Q4 2019-20 due to better oil price realization. The average crude oil price realisation during Q4 FY 2020-21 was USD 59.80/bbl which was higher by 14.61 percent as compared to crude Oil price realisation of US$ 52.18/BBL during Q4 FY 2019-20.  

The Average Crude Oil price realisation in FY 2020-21 is US$ 43.98 /BBL vis-à-vis US$ 60.75/BBL during FY 2019-20, decreased by 27.61 percent due to demand disruption caused by COVID. Average natural gas price realisation during FY 2020-21 decreased by US$ 1.37 / MMBTU to US$ 2.09/MMBTU as compared to US$ 3.46/MMBTU during FY 2019-20. The crude oil production for FY 2020-21 is 2.964 MMT which is 5.42 percent lower than the crude oil production of 3.134 MMT during FY 2019-20. Further, production for Q4 2020-21 is 5.28 percent lower at 0.718 MMT as compared to 0.758 MMT in Q4 2019-20.

Natural gas production during FY 2020-21 is lower by 5.68 percent at 2,642 MMSCM as compared to 2,801 MMSCM during FY2019-20.


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The Board of OIL has recommended a final dividend of Rs 1.50 per share for 2020-21. Earlier, the company had paid an interim dividend of Rs 3.50 per share in February 2021.

The company has acquired an additional 54.16 percent ownership interest in Numaligarh Refinery Limited (NRL) on March 26 for total cash consideration of Rs 8,676 crore increasing the equity stake in NRL to 80.16 percent as on March 31, 2021, including 10.53 percent shares held on behalf of the government of Assam. NRL is now a subsidiary of OIL.

The company has made investments of over Rs 12,000 crore including Rs 8,676 crore in NRL. During the year two major infrastructure projects, Secondary Tank Farm at Madhuban and Gas Compressor Station at Makum were dedicated to the Nation by Prime Minister Narendra Modi. During the year, the company acquired four blocks in OALP Round-V increasing its acreage by 13 percent.

The OIL has achieved significant progress in the Exploration and Drilling activity and is the first operator to complete the seismic acquisition in a block of OALP Round-I. There was a blowout incident in a gas well in Baghjan Oilfield during workover operations in May 2020 that was successfully controlled.

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