Oil India has reported results for second quarter ended September 30, 2016.
The company has reported 17.77% fall in its net profit at Rs 580.27 crore for the quarter under review as compared to Rs 705.67 crore for the same quarter in the previous year. Total income of the company decreased by 8.10% at Rs 2720.92 crore for the quarter under review as compared Rs 2960.77 crore for the corresponding quarter previous year.
Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company, while IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
