New Delhi, May 13 -- Oil India Limited (OIL) on Wednesday reported strong operational and financial performance for the fourth quarter of FY26, driven by higher crude oil production, improved crude price realisation and robust upstream operations. The Maharatna Central Public Sector Enterprise announced its results following a meeting of its Board of Directors held on Tuesday.
The company posted a profit after tax (PAT) of Rs 2,424 crore in Q1 FY26, marking a sharp 62 per cent increase from Rs 1,497 crore recorded in the corresponding quarter of FY25, OIL said in a statement.
For the full financial year ended March 31, the company's consolidated PAT stood at Rs 7,551 crore, compared with Rs 7,040 crore in the previous fiscal, reflecting steady annual growth despite uncertainty in the global energy market.
On a standalone basis, OIL reported a PAT of Rs 1,790 crore in Q4 FY26, higher than Rs 1,591 crore in the year-ago quarter.
The increase in profitability was attributed mainly to a 6 per cent rise in crude oil production and a 5 per cent increase in crude oil price realisation.
Average crude oil realisation rose from USD 74.46 per barrel in Q4 FY25 to USD 77.89 per barrel in Q4 FY26.
The Board of Directors also recommended a final dividend of Rs 1 per equity share of face value Rs 10 each.
This was in addition to the first and second interim dividends of Rs 3.50 and Rs 7 per equity share, respectively, paid during the financial year.
Highlighting operational achievements, the company said it produced 0.891 million metric tonnes (MMT) of crude oil from its mature and declining fields in Q4 FY26, compared with 0.844 MMT in the corresponding quarter of the previous fiscal.
In a major milestone, OIL achieved its highest daily crude oil production in the last decade at 10,566 metric tonnes.
The company also completed a record 307 workovers during the year, the highest in its history.
Officials said the aggressive drilling programme helped OIL maintain a Reserve Replacement Ratio of above one, indicating that it replenished reserves at a rate higher than production.
Meanwhile, Numaligarh Refinery Limited (NRL), a key subsidiary of OIL, also posted strong financial results in FY26.
NRL's PAT surged 90 per cent to Rs 3,057 crore from Rs 1,608 crore in FY25, while the refinery reported a Gross Refining Margin (GRM) of USD 13.43 per barrel during the year.
These strong performances by both OIL and NRL are timely, considering that India still remains committed to increasing its own production capacity while reducing its dependency on external supplies of hydrocarbons.
Published by HT Digital Content Services with permission from Millennium Post.