 "Oil India Q2 net profit drops 42% to Rs 381 crore on blowout expense")
Oil India Ltd, the nation's second-biggest state oil producer, on Monday reported a 42 per cent drop in September quarter net profit largely on account of lower oil prices and one-time expense it incurred on controlling a blowout in Assam.
Net profit in July-September at Rs 381.75 crore was lower than Rs 661.53 crore net profit in the same period a year back, the company said in a stock exchange filing.
OIL said a blowout occurred in a producing well (Baghjan#5) in Tinsukia district of Assam on May 27 andthe well caught fire on June 9.
"To control the blowout,
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