Oil India Q2 profit declines 17.7% to Rs580.2 crore

Oil India reported a 7.9% fall in revenue in the July-September period to Rs2,331.7 crore from a year ago


Photo: Mint
Photo: Mint

New Delhi: State-owned Oil (India) Ltd. on Monday reported a 17.7% decline in net profit for the September quarter of 2016-17 to Rs580.2 crore on account of lower crude oil price realization.

Oil (India) reported a 7.9% fall in revenue in the July-September period to Rs2,331.7 crore from a year ago.

The company produced 0.81 million tonne of crude oil and 0.74 billion cubic metre of gas during the period, it said in a statement to the stock exchanges.

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