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Oil India Ltd on Monday reported a 27 per cent sequential decline in consolidated net profit for the March quarter at ₹1,142 crore. Total income grew by 11 per cent sequentially to ₹7,193 crore.
Profit for the quarter under review fell 34 per cent on a year-on-year basis. The decline in profit is partly due to tax rebates during the previous quarter and year.
For the financial year 2021, profit fell 17 per cent to ₹4,146 crore while revenue grew 7 per cent to ₹23,590 crore. Profit from the firm’s crude oil production business declined 54 per cent during the year to ₹1,446 crore.
The company board on Monday approved a final dividend of ₹1.501 per share for 2020-21. Including the interim dividend paid out in March, the total dividend for the fiscal comes to ₹4.002 per share.
The central government, which controls 57 per cent stake in the firm, will get a total dividend of ₹246 crore.
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