Oil India Sept quarter net down 16% at Rs 954.57 cr

Oil India Sept quarter net down 16% at Rs 954.57 cr

State-owned Oil India today reported a 16 per cent drop in net profit to Rs 954.57 crore for the three months ended September 30, 2012. The entity had a net profit of Rs 1,138.52 crore in July-September quarter of 2011, Oil India said in a regulatory filing.

The company's total Income has decreased to Rs 2,921.84 crore in the second quarter ended September 30, 2012 from Rs 3,787.92 crore in the year-ago period.

In the segment wise results, revenues from crude oil has declined to Rs 1,987 crore in the July-September quarter from Rs 2,741 crore in the same quarter last fiscal, while sales from LPG also dropped to Rs 20.76 crore from Rs 29.91 crore.

However, sales from natural gas trading have risen to Rs 412.25 crore from Rs 330.65 crore.

In the June quarter, Oil India had posted a 9.5 per cent rise in net profit on back of higher crude oil and  natural gas prices.

Shares of Oil India improved by 0.09 per cent to settle at Rs 475.65 apiece on the BSE.