State-owned Oil India Ltd today reported a 56 per cent jump in its April-June quarter net profit on back of higher oil prices.
Oil India Ltd today said the current prices of crude oil are “comfortable” for both the country and the state-owned company.
Oil India rose 1.31% to Rs 209 at 9:21 IST on BSE after the company said it signed a joint venture pact for construction of grid pipelines in eight North-East states.
Oil India (OIL) has signed a Joint Venture Agreement at Guwahati on 20 July, 2018 in connection with formation of a JV Company for construction of North-East Gas Grid Pipeline in the eight North-Eastern States, viz.
The government will launch the fourth tranche of the CPSE Exchange Traded Fund (ETF) and has started looking for merchant bankers to advise on the sale process.
Oil India’s Q4FY18 net rose 23% q/q to Rs 8.67 billion —in line with JEFe helped by higher other income and lower taxes offset somewhat by higher provisions.
State-owned Oil India Ltd today reported a net profit of Rs 866.5 crore for the March quarter on the back of higher oil prices.
Oil India limited has been consolidating for the past 18 weeks and has finally broken out from the rising wedge pattern on the weekly charts.
The government has shelved the plan to privatise several key ageing fields of ONGC and Oil India following strong opposition from the state-run companies and consultations between the oil ministry and the Prime Minister’s Office. The two companies will now draw up their own proposals to boost output from the fields.
Oil India Ltd has commissioned a 52.5-MW commercial wind energy project developed partly in Gujarat and partly in Madhya Pradesh. A company statement said that another 500-KW captive solar project in Jorhat, Assam has also been commissioned.