×
E-PAPER ▾

E-paper

Business

Oil India Q1 net dips 9% on low gas price

| | New Delhi

State-owned Oil India Ltd on Friday reported a 9 per cent drop in its June quarter net profit after a drop in natural gas price offset gains made from higher oil production. The company posted a net profit of Rs 450.24 crore, or Rs 5.67 per share, in April-June compared with Rs 494.41 crore, or Rs 6.17 per share, in the same period of the previous fiscal.

“The reduction in profit after tax (net profit) was primarily due to the reduction in price of natural gas from $3.06 per million British thermal unit in Q1 FY 2016-17 to $2.48 per mmBtu in Q1 FY 2017-18,” Oil India said in a statement.     

 
 
 
 
 

TOP STORIES

Sunday Edition

View All

My father lived, died for India, says Rahul

15 Jul 2018 | PTI | New Delhi

Amid row over alleged use of derogatory language in a web series while referring to former Prime Minister Rajiv Gandhi, Congress chief Rahul Gandhi on Saturday said the BJP and the RSS believe that freedom of expression must be policed, while he regards it as a fundamental democratic right. “My father lived and died in the service of India...

Read More

STATE EDITIONS

View All

CM grieves demise of Dr Ramchandra Singhdeo

21 Jul 2018 | Staff Reporter | Raipur

Chief Minister Raman Singh on Friday expressed profound grief over the death of former State Finance Minister Dr Ramchandra Singhdeo. The Chief Minister reached the residence of legendary leader in the capital and paid floral tributes...

Read More

Page generated in 0.2041 seconds.