Oil India Ltd Q3 PAT up 25.4% at Rs890cr on prior year’s tax credit of Rs1,295cr

Oil India Ltd reported -27.72% fall in total revenues for the Dec-20 quarter on consolidated basis at Rs2,137.34cr

February 12, 2021 8:12 IST

Oil India Ltd reported -27.72% fall in total revenues for the Dec-20 quarter on consolidated basis at Rs2,137.34cr. The two largest chunks of Oil India viz. Crude Oil and natural gas saw a sharp fall in revenue contribution in the quarter largely on account of lower crude prices in the Brent international market. Other segments like LPG, pipeline transportation and renewable energy did better on yoy basis, but they were too small to make a difference.

The consolidated Profit after tax (PAT) for the Dec-20 quarter was up 25.42% at Rs889.69cr. Oil India had actually made a pre-tax loss but a tax credit of Rs1295cr pertaining to prior years resulted in profit growth in the current quarter. As a result, the PAT margins expanded smartly from 23.99% in Dec-19 to 41.63% in Dec-20.

Financial highlights for Dec-20 compared yoy and sequentially

Oil India Ltd
Rs in Crore Dec-20 Dec-19 YOY Sep-20 QOQ
Total Income (Rs cr) ₹ 2,137.34 ₹ 2,957.19 -27.72% ₹ 2,175.87 -1.77%
Net Profit (Rs cr) ₹ 889.69 ₹ 709.39 25.42% ₹ 381.75 133.06%
Diluted EPS (Rs) ₹ 8.20 ₹ 6.54 ₹ 3.52
Net Margins 41.63% 23.99% 17.54%