In its latest financial disclosure, Oil India Limited, a major public sector entity, announced a record-breaking Standalone Profit After Tax (PAT) of ₹2,870 Crore for the first quarter of fiscal year 2027. This figure represents a substantial increase from the ₹813 Crore reported in the same period the previous year, marking a year-over-year growth of 250%. This surge in profits is primarily attributed to an 11% increase in crude oil output and a significant crude oil price realization of USD 98.73 per barrel during the quarter.
The announcement came during the 583rd meeting of the Board of Directors on August 7, 2026. Additionally, the company’s Consolidated PAT also saw a dramatic rise, reaching ₹4,027 Crore in Q1 FY27, up 97% from ₹2,047 Crore in Q1 FY26.
During this period, Oil India Limited extracted 0.950 million metric tonnes (MMT) of crude oil from its aging fields, compared to 0.853 MMT in the prior year’s first quarter. The company also set a new daily production record on June 27, 2026, with 10,921 metric tonnes (approximately 84,109 barrels) of crude oil extracted.
Further boosting its financial performance, Oil India’s key subsidiary, NRL, reported a 167% increase in its PAT, which climbed to ₹1,305 Crore in Q1 FY27 from ₹488 Crore in the preceding year. This was accompanied by a Gross Refining Margin (GRM) of $35.95 per barrel and an improved Distillate Yield of 87.58%.
On the exploration front, Oil India achieved significant milestones with the discovery of natural gas at the Vijaya Puram-3 exploratory well in the Andaman Basin, highlighting the area’s rich hydrocarbon potential. The company also completed a highly deviated exploratory well in Assam, achieving the longest-ever horizontal displacement of 3,116 meters for an onshore well in the region. These developments underscore Oil India’s ongoing commitment to bolstering national energy security and enhancing its operational efficiencies.
