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Oil India Records Highest Ever Quarterly Profit in Q2 FY-23

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New Delhi: Oil India Limited (OIL), India’s second-largest National Exploration & Production Company recorded the highest-ever quarterly profit after tax in Q2 FY-23 at ₹ 1,720.53 crores, supported by improved price realization and production growth. For the half year ended 30th September 2022, the profit after tax was ₹ 3,276.02 crore. The Earnings Per Share (EPS) also increased to ₹ 15.87/share in Q2 FY-23 and to ₹ 30.21/share in H1 FY-23. OIL Board has declared an interim dividend of ₹ 4.50 per share at a Face Value of ₹ 10.

OIL also maintained the increasing trend in its physical production of Crude Oil and Natural Gas. Crude Oil Production increased by 3.95%, while Natural Gas Production rose by 2.11% in Q2 FY-23.  Similarly, Crude Oil Production and Natural Gas Production for the half year ended 30th September 2022 showed an increase of 4.05% and 5.01% respectively vis-à-vis the same period of last FY.   

The turnover of the company increased to ₹ 6,670.81 crores during Q2 vis-à-vis ₹ 3,678.76 crores in Q2 of last FY. OIL’s group turnover for the half year ended 30th September 2022 also recorded a rise of 61.42% over the half year ended 30th September 2021, while group PAT for the half year ended 30th September 2022 saw an impressive increase of 100.31% to ₹ 5,346.06 cro

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