DULIAJAN, Aug. 7: State-run Oil India Ltd (OIL) posted its highest-ever standalone quarterly profit after tax (PAT) of ₹2,870 crore for the first quarter of FY2026-27, driven by higher crude oil production, improved price realisation and strong refining performance.
The Maharatna company reported a more than 250 per cent year-on-year rise in standalone PAT from ₹813 crore in the corresponding quarter last year, while consolidated PAT increased 97 per cent to ₹4,027 crore.
The strong performance was supported by an 11 per cent increase in crude oil production to 0.950 million metric tonnes (MMT) during the April-June quarter from 0.853 MMT a year earlier. Higher crude price realisation of USD 98.73 per barrel also boosted revenues.
OIL also achieved its highest-ever daily crude oil production of 10,921 metric tonnes (84,109 barrels) on June 27, marking a significant operational milestone.
Its subsidiary, Numaligarh Refinery Limited, reported a 167 per cent increase in quarterly profit to ₹1,305 crore and recorded a gross refining margin of USD 35.95 per barrel.
The company also announced a natural gas discovery at the Vijaya Puram-3 exploratory well in the Andaman Basin. In Assam, it successfully drilled an exploratory well with a record horizontal displacement of 3,116 metres, the highest achieved in an onshore well in the country.
The results were approved at the 583rd meeting of OIL’s Board of Directors on Friday, reflecting strong operational and financial performance in the opening quarter of the financial year.
