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.

Source: www.moneycontrol.com

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