Oil India Q1 net profit up 56% to Rs 7.03 bn over better crude realisation

Crude realisation increased by $23.59 a barrel to $72 a barrel during the first quarter of the current financial year

State-run Oil India Ltd (OIL) has posted a 56 per cent increase in net profit to Rs 7.03 billion for the first quarter of the financial year 2018-19, compared to Rs 4.5 billion during the same period last year, owing to better crude realisation.   

The company's total income for the April-June quarter of the current financial year also increased 42 per cent from Rs 24.85 billion during the first quarter of 2017-18 to Rs 35.17 billion. The rise in net profit was mainly owing to better crude realisation, which increased by $23.59 a barrel to $72 a barrel during