OIL pre-tax profit jumps two-fold in Q4 over reversal of deferred tax

State-run Oil India (OIL) has posted an almost twofold increase in its pre-tax profit in the fourth quarter of FY20 at Rs 267.57 crore, aided by reversal of deferred tax. It had reported a pre-tax profit of Rs 89.22 crore in the corresponding period of 2018-19.

Revenue saw a drop of 16 per cent in Q4FY20 at Rs 2,607.38 crore compared to Rs 3,097.26 crore during the January to March period of 2018-19.
 

For the entire FY20, profit before tax (PBT) fell 25 per cent to Rs 3,500.65 crore, against Rs 4677.19 crore in FY19. Revenue from operations for the year