Oil India Limited Q1 FY 2019-20 results

Oil India Limited (OIL), India’s second largest National Exploration & Production Company, in its 505^th Board Meeting held on 9^th August, 2019 approved the Q1 FY 2019-20 results.

Highlights:

• Due to fall in international crude oil prices, average Crude Oil price realisation is lower by 7.88% to US$ 66.33 /BBL in Q1 FY2019-20 as compared to US$ 72.00/BBL during Q1 FY2018-19.
• Average crude price realisation in INR terms is also lower by 4.35% to Rs. 4,613.25/bbl in Q1 FY2019-20 as compared to Rs. 4,823.28/bbl in Q1 FY2018-19.
• Average natural gas price realisation during Q1 FY 2019-20 improved to US$ 3.69/MMBTU as compared to US$ 3.06/MMBTU in Q1 FY 2018-19
• Crude Oil production for Q1 FY2019-20 is 0.813 MMT which is 3.67% lower than the crude oil production of 0.844 MMT during Q1 FY2018-19.
• However, Natural gas production during Q1 FY2019-20 increased to 712 MMSCM, from 696 MMSCM during Q1 FY2018-19 registering an increase of 2.30%
• EBITDA for Q1 FY2019-20 was lower by 3.86% at Rs 1,475.91 crore as compared to EBITDA of Rs 1,535.17 crore in Q1 FY2018-19.
• There is a decrease of 11.15% in Profit After Tax (PAT) for Q1 FY2019-20 at Rs 624.80 crore as compared to PAT of Rs 703.22 crore in Q1 FY2018-19.
• Company has received ‘NIL’ comment from Comptroller & Auditor General of India on FY 2018-19 accounts, for the 17^th consecutive years.

Details of Q1 FY 2019-20 results are as follows:

1. Performance:

  *includes OIL’s production in joint ventures.