3 weeks ago
Oil India Q1 profit nearly doubles to ₹4,027 crore
Oil India is a company owned by the Indian government that looks for and pumps oil out of the ground.
In the first three months of the new financial year, it made almost twice as much profit as it did the year before.
The profit was about ₹4,027 crore.
One reason is that it pumped more crude oil from its old oilfields.
Another reason is that its refinery, Numaligarh Refinery, made a lot more money.
The refinery's profit grew by 167 percent, helped by much higher refining margins.
Oil India also set a new record by producing 10,921 tonnes of oil in a single day.
During the quarter, it found natural gas at a well in the Andaman Basin.
It also drilled a very long, slanted well in Assam.
All of this helps make sure the country has enough energy.
State-run Oil India reported a consolidated net profit of around ₹4,027 crore in Q1 FY27, nearly double year-on-year and up more than 66% sequentially.
Consolidated total income rose to about ₹13,236 crore in Q1 FY27, from ₹9,006 crore in Q1 FY26.
Crude oil production from mature fields increased to 0.950 million tonnes in Q1 FY27, up from 0.853 million tonnes a year earlier.
Subsidiary Numaligarh Refinery posted 167% profit-after-tax growth to ₹1,305 crore, with a gross refinery margin of $35.95 per barrel.
OIL reported a natural gas discovery at the Vijaya Puram-3 well in the Andaman Basin and set a record daily crude output of 10,921 tonnes on June 27, 2026.
- Who
- Oil India Limited (OIL), a state-run exploration and production company, and its subsidiary Numaligarh Refinery (NRL)
- What
- Reported a consolidated net profit of around ₹4,027 crore for Q1 FY27, nearly double year-on-year, driven by higher crude output and strong refinery earnings
- Where
- India, including operations tied to the Andaman Basin and an onshore well in Assam
- When
- First quarter of FY27, announced on Friday and published on August 7, 2026; record daily production was achieved on June 27, 2026
- Why
- Higher crude oil production from mature oilfields and robust profit growth at Numaligarh Refinery boosted earnings
Key facts
- Company
- Oil India Limited (OIL), state-run E&P company
- Consolidated net profit (Q1 FY27)
- ₹4,027 crore, nearly double year-on-year
- Consolidated total income (Q1 FY27)
- ₹13,236 crore
- Crude oil production (Q1 FY27)
- 0.950 million tonnes, up from 0.853 million tonnes
- Record daily crude output
- 10,921 tonnes (84,109 barrels) on June 27, 2026
- NRL profit after tax (Q1 FY27)
- ₹1,305 crore, up 167% from ₹488 crore
- NRL gross refinery margin
- $35.95 per barrel, up from $5.02
- Gas discovery
- Vijaya Puram-3 exploratory well in the Andaman Basin
Quotes
Oil India statement
Official statement from Oil India
“OIL’s material subsidiary NRL achieved a robust 167 per cent growth in profit after tax (PAT), rising to Rs 1,305 crore in Q1 FY27 from ₹488 crore in Q1 FY26 with a gross refinery margin of $35.95 per barrel vis‑à‑vis $5.02 and Distillate Yield of 87.58 per cent vis‑à‑vis 85.38 per cent.”
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