Oil India reports 33% fall in Q1 net profit

Oil India has reported results for first quarter ended June 30, 2016.

The company has reported 33.48% fall in its net profit at Rs 494.41 crore for the quarter ended June 30, 2016 as compared to Rs 743.21 crore for the same quarter in the previous year. The company’s total income decreased by 22.23% to Rs 2460.85 crore for the quarter under review from Rs 3164.12 crore for the corresponding quarter of the 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.