State-owned Oil India Ltd. (OIL), on Wednesday, reported a 9.5 per cent rise in net profit in the June quarter on the back of higher crude oil and natural gas prices.
The net profit in April-June quarter at Rs.929.93 crore was higher than Rs.849.61 crore in the same period a year ago, the company said in a press statement here.
“The increase of 9.45 per cent in profit after tax (net profit) has been possible due to higher crude oil, natural gas, price in rupee terms and increase in interest income,” it said.
The company paid Rs.2,015.52 crore in fuel subsidies in the said quarter, up 13.2 per cent from Rs.1,780.65 crore in the same period a year ago.
The turnover rose by 8.22 per cent to Rs.2,439.63 crore.
