OIL reports 122.37% increase in PAT for Q3 of 2020-21
New Delhi, February 11, 2021: Oil India Limited (OIL), India’s second largest National Exploration & Production Company, in its 519th Board Meeting held on 11th February, 2021 approved the Q3 and 9 M FY 2020-21 results. Details of Q3 and 9M FY 2020-21 results are as follows:
- Performance:
| Details | Unit | Q3 2020-21 |
Q3 2019-20 |
9M 2020-21 |
9M 2019-20 |
|
| A. Financial | ||||||
| Total Income | Rs. Crores | 2,497.24 | 3,087.37 | 6,651.84 | 10,064.99 | |
| Turnover | Rs. Crores | 2,126.01 | 2,951.99 | 6,038.88 | 9,538.96 | |
| Net Profit | Rs. Crores | 903.69 | 406.39 | 894.03 | 1,658.42 | |
| Earnings per share | Rs. | 8.33 | 3.74 | 8.24 | 15.29 | |
| Adjusted EBITDA | Rs. Crores | 744.09 | 1,232.25 | 2,037.47 | 4,430.77 | |
| Adjusted EBITDA Margin | %age | 29.80% | 39.91% | 30.63% | 44.02% | |
| B.Crude oil Price | ||||||
| Crude oil Price Realization | USD/Barrel | 44.09 | 63.27 | 38.98 | 63.62 | |
| Rs/Barrel | 3,279 | 4,507 | 2,911 | 4,479 | ||
| Ex Rate | Rs | 74.38 | 71.23 | 74.67 | 70.40 | |
| C. Production* | ||||||
| Crude oil | MMT | 0.748 | 0.747 | 2.247 | 2.376 | |
| Natural Gas | BCM | 0.673 | 0.697 | 1.993 | 2.156 | |
| Oil + Oil equivalent | MMTOE | 1.421 | 1.444 | 4.240 | 4.532 | |
| D. Sales | ||||||
| Crude oil | MMT | 0.723 | 0.726 | 2.181 | 2.314 | |
| Natural Gas | BCM | 0.586 | 0.598 | 1.714 | 1.872 | |
| Oil + Oil equivalent | MMTOE | 1.309 | 1.324 | 3.895 | 4.186 | |
*includes OIL’s production in joint ventures.
- Highlights:
- OIL reported 122.37% increase in PAT for Q3 of 2020-21 to Rs. 903.69 crore against PAT of Rs. 406.39 crore during Q3 2019-20. The PAT for 9M 2020-21 is Rs. 894.03 crore as compared to Rs.1658.42 crore during 9M 2019-20.
- The financial performance during 9M 2020-21 was adversely affected due following reasons:
- Reduction in average crude oil price for the 9M 2020-21 to USD 38.98/bbl from USD $ 63.62/bbl for 9M 2019-20. The decrease in price has led to decease in turnover by Rs.2,838 crore and profitability by Rs.1416 crore during 9M 2020-21.
- Reduction in average natural gas price for the 9M 2020-21 to USD 2.19/mmbtu from USD 3.54/mmbtu for 9M 2019-20. The decrease in price has led to decease in turnover by Rs.625 crore and profitability by Rs.425 crore during 9M 2020-21.
- Exceptional expenditure due to blowout in Baghjan Well.
- The adjusted EBIDTA for 9M 2020-21 is Rs.2,037.47 Crore as against Rs.4,430.77 crore during 9M 2020-21. EBIDTA margin reduced to 30.63% as against 44.02% in 9M 2019-20.
- Crude oil production for Q3 2020-21 has remained flat at 0.748 MMT as compared to 0.747 MMT during Q3 2019-20. natural gas production for Q3 2020-21 has marginally reduced to 673 MMSCM as compared to 697 MMSCM during Q3 2019-20
- Crude oil and Natural gas production during 9M FY 2020-21 was 2.247 MMT and 1993 MMSCM respectively as compared to 2.376 MMT and 2156 MMSCM during the corresponding period in the previous year.
- OIL has declared interim dividend of Rs. 3.50 per share for the FY 2020-21.
