Oil India Q2 net profit down 27.24% at Rs 627.23 cr
09/11/2019 20:10
The company reported standalone net profit of Rs 627.23 crore for the quarter ended September 30, 2019 as compared to Rs 862.01 crore in the same period last year, registering a year-on-year decline of 27.24 per cent.

Net revenue of the company declined moderately by 14.16 per cent at Rs 3,213.61 crore in July-September quarter of this fiscal as against Rs 3,743.58 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 13.14 per cent to Rs 1,970.76 crore from Rs 2,268.96 crore in year ago period.

Other Income dipped by 6.92 per cent at Rs 267.91 crore versus (Sep'18 Rs 287.83 crore).

Operating Profit slipped by 15.72 per cent to Rs 1,242.85 crore as against Rs 1,474.62 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 1.83 per cent in September quarter.

Interest declined by 3.85 per cent y-o-y to Rs 120.84 crore, while Taxation decreased by 15.12 per cent at Rs 347.32 crore (Sep'18 Rs 409.18 crore).