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New Delhi(The Uttam Hindu): State-owned Oil India Limited (OIL) announced a 10.13 per cent rise in net profit to Rs 6,114.19 crore for the year ended March 31, 2025, with record high oil and gas production leading the growth. The upstream oil company recorded its all-time record total production of 6.71 MMTOE, while the production of crude oil went up by 2.95 per cent to 3.458 MMT and that of natural gas climbed 2.20 per cent to 3.252 BCM.
The company reported that it "has recorded the highest-ever combined oil and gas production of 6.71 MMTOE in FY25. The production of Crude Oil during the year ended 31 March 2025 went up by 2.95 per cent at 3.458 MMT and the Natural Gas production for FY25 rose by 2.20 per cent at 3.252 BCM and is the highest ever in the history of the company since its incorporation." Praising the performance of the company, Minister for Petroleum and Natural Gas Hardeep Singh Puri stated: "India's energy sector PSUs are still making outstanding contributions to India's journey towards energy security under the visionary guidance of PM Narendra Modi. Applause to Oil India Limited on their outstanding financial performance with a strong 10 per cent growth of Rs 6,114 crore in standalone PAT, and all-time highest production of 6.71 MMTOE.".
"A remarkable consolidated PAT of Rs 7,039 crore, led by upstream oil exploration subsidiary ONGC's Rs 1608 crore profit and $5.14/bbl GRM (Gross Refining Margin (GRM), is a testimony to the company's strategic prowess," the minister said.
The board of the company has also approved a final dividend of Rs 1.50 per equity share, besides the 100 per cent interim dividend already distributed in the year. Even as the company posted a robust annual performance, OIL's fourth-quarter results saw the pressure of declining crude prices and operating margins. Q4 FY25 net profit fell 22 per cent at Rs 1,591.48 crore compared to Rs 2,028.83 crore in the corresponding period last year.
Quarterly total income was Rs 6,182.79 crore, down from Rs 6,589.91 crore in Q4 FY24, while the EBITDA margin dipped to 42.83 per cent from 48.09 per cent. Realisation of crude oil price also declined to $74.46 per barrel in FY25 from $83.03 in the last fiscal year. The EPS of the company during FY25 was at Rs 37.59, higher than Rs 34.13 in FY24. OIL substantially increased its capital expenditure with a growth of 123 per cent to Rs 8,467.33 crore.