Oil India has reported results for third quarter ended December 31, 2013.
The company has reported 3.97% decline in its net profit at Rs 902.96 crore for the quarter, as compared to Rs 940.29 crore for the same quarter in the previous year. However, total income of the company increased by 5.38% at Rs 3052.37 crore for quarter under review as compared to Rs 2896.61 crore for the quarter ended December 31, 2012.
Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company. Oil India has over 1 lakh sq km of PEL/ML areas for its exploration and production activities, most of it in the Indian North East, which accounts for its entire crude oil production and majority of gas production. Rajasthan is the other producing area of the company, contributing 10 per cent of its total gas production.
