Net profit of Rs 1,244.90 crore in October-December 2021 is compared with Rs 903.69 crore net profit a year back, the company said in a statement.

 

Total income jumped 88%to Rs 4,705.20 crore in the 3 month period ended December 31, 2021.

 

"Average crude oil price realization for Q3 2021-22 is USD 78.59 per barrel as compared to USD 44.09 for Q3 of 2020-21, increase of 78.25%," it said.

 

Also, natural gas price rose to USD 2.90 per million British thermal unit from USD 1.79.

 

While natural gas production rose 18%  to 0.793 billion cubic meters in Q3, crude oil production was almost unchanged at 0.75 million tonne.

 

Board of OIL declared a second interim dividend of Rs 5.75 per share for 2021-22 which resulted in total interim dividend till date of Rs 9.25 per share for the fiscal year.

 

For 9 months ended December 31, 2021, OIL net profit soared 152% to Rs 2,257.30 crore. Turnover of the company increased to Rs 10,051.57 crore from Rs 6,028.72 crore last year up to December 2020.

 

"The OIL-Assam Gas Company Limited consortium (OIL-49% and AGCL-51%) has received letter of intent for grant of authorization for development of city gas distribution network in 3 geographical areas (2 in Tripura and 1 in north bank of Assam) in the recently concluded 11th round of CGD bidding round," the statement added.