Oil India Limited Reports Steady Financial Performance in Q2FY26
Oil India Limited, a leading Maharatna CPSE under the Government of India, recently held its 574th Board of Directors meeting on November 14, 2025, in Noida, where it announced its financial outcomes for the second quarter of the fiscal year 2025-2026.
Financial Highlights
The company reported a consolidated turnover of ₹9,175 crore for Q2FY26, maintaining its revenue level compared to ₹8,136 crore in the same quarter the previous year. However, Oil India observed a reduction in its standalone profit after tax (PAT), which was ₹1,044 crore in Q2FY26, down from ₹1,834 crore in Q2FY25. This decline was primarily attributed to a significant 14% decrease in crude oil prices, from USD 79.33 per barrel in Q2FY25 to USD 68.19 per barrel in Q2FY26.
In response to these financial results, the Board of Directors approved an interim dividend of ₹3.50 per fully paid equity share.
Operational Achievements
During the quarter, Oil India successfully produced 1.652 million metric tonnes of oil equivalent (MMTOE) of oil and oil equivalent gas, slightly less than the 1.674 MMTOE produced in the previous year’s corresponding quarter.
The company’s material subsidiary, Numaligarh Refinery Limited (NRL), also reported robust operational performance by processing 753 thousand metric tonnes (TMT) of crude, an increase from 683 TMT in Q2FY25, achieving a capacity utilization of 100.38%.
Strategic Developments
- Inauguration of a Groundbreaking Facility: A landmark development was marked by the inauguration of India’s first second-generation (2G) bioethanol plant which utilizes bamboo as a feedstock. The facility was inaugurated by the Hon’ble Prime Minister of India, highlighting NRL’s pioneering efforts in sustainable energy.
- Infrastructure Upgrades: Another significant achievement for Oil India was the mechanical completion of the upgrade for the Numaligarh–Siliguri Product Pipeline (NSPL), enhancing the operational capabilities of this critical infrastructure.
- International Ventures: In international news, the force majeure at Area-1 Offshore LNG Block in Mozambique, where Oil India holds a 4% interest, was officially lifted in November 2025. This resolution marks a positive shift towards resuming full operations in the region.
These strategic initiatives and operational advancements underscore Oil India’s commitment to maintaining its leadership role in the energy sector, despite facing volatile market conditions and external challenges.
