Oil India Ltd (OIL) achieved a record annual production of oil and natural gas at 3.847 million metric tonnes and 2,633.29 million metric standard cubic meters, respectively, in the last fiscal, a top company official said today.
The turnover of the company was also the highest so far at Rs 9,863.23 crore, an increase of 18.54% from the year-ago period, OIL Chairman and Managing Director S K Srivastava said during the company's 53rd AGM here.
The profit after tax touched a new peak of Rs 3,446.92, up 19.36% over the previous year, he said.
The company declared a dividend of 400%, which is the highest so far, he added.
Improved financial performance has helped OIL to increase its net worth to Rs 17,721 crore against Rs 15,602 crore in 2010-11, Srivastava said.
He said this achievement was in spite of having provided subsidy discounts of Rs 7,351.77 crore during the fiscal (against Rs 3,293.08 crore in the same period of 2010-11) to oil marketing companies to compensate their under recoveries in line with the government policy.
Srivastava said OIL contributes substantially to the state (Rs 1,865.53 crore) and Central exchequer (Rs 3,908.62 crore) in terms of cess, royalty and sales tax.
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