Oil India sees 9.45% jump in net profit during Apr-June period

NEW DELHI: Oil India Ltd has witnessed 9.45% rise in net profit in the June quarter of the present financial year. This became possible due to the stronger crude oil and natural gas price realisation (exchange rate benefit) coupled with rise in interest income.

In the same quarter, subsidy to the oil marketing firms rose 13.19% to Rs 2,015.52 crore as against Rs 1,780.65 crore in the same period of last year. The subsidy has impacted the net profit by Rs 1,137.72 crore.

The turnover during the quarter stood at Rs 2,439.63 crore as against Rs 2,254.42 crore in the corresponding quarter last year, witnessing rise of 8.22%.