OIL Oct-qtr net up 4 %

OIL Oct-qtr net up 4 %

FPJ BureauUpdated: Saturday, June 01, 2019, 04:00 PM IST
article-image

New Delhi : State-owned Oil India Ltd (OIL) reported a 4 per cent drop in the December quarter profit after output fell and fuel subsidy outgo surged.     Net profit in October-December fell to Rs 902.96 crore, or Rs 15.03 per share, from Rs 940.29 crore, or Rs 15.64 a share, the company said in a statement.

This was primarily because the subsidy it pays to fuel retailers so that they can sell diesel and cooking fuel at government fixed rates, rose 11.5 per cent to Rs 2,173.48 crore.

RECENT STORIES

Mainboard IPOs Made A Strong Comeback In May, Signal Renewed Strength In Indian Markets

Mainboard IPOs Made A Strong Comeback In May, Signal Renewed Strength In Indian Markets

CCI Probe Indicts Ultratech In ONGC Tender Cartelisation Case

CCI Probe Indicts Ultratech In ONGC Tender Cartelisation Case

RBI Withdraws ₹1 Lakh Crore Via 7-Day VRRR Auction To Curb Surplus Banking Liquidity Levels

RBI Withdraws ₹1 Lakh Crore Via 7-Day VRRR Auction To Curb Surplus Banking Liquidity Levels

BSE Schedules Mock Trading For Equity Segment, Members Invited To Test Systems On July 5

BSE Schedules Mock Trading For Equity Segment, Members Invited To Test Systems On July 5

IRB InvIT Fund Unitholders Approve Acquisition Of 100% Equity Share Capital Of Three Special Purpose...

IRB InvIT Fund Unitholders Approve Acquisition Of 100% Equity Share Capital Of Three Special Purpose...