State-run Oil India’s standalone net profit dropped 33.47 per cent to Rs 494.41 crore in the quarter ended on June 30, 2016, compared to the same period last year.
The oil PSU had reported a net profit of Rs 743.21 crore for the quarter ended June 30, 2015.
Total income fell to Rs 2,460.85 crore for the quarter ended June 30, 2016, from Rs 3,164.12 crore in the quarter ended June 30, 2015, Oil India said in a BSE filing on September 6.
Oil India’s revenue from crude oil came down to Rs 1,605.35 crore in the first quarter of this fiscal from Rs 2,195.36 crore in the year ago period.
Similarly, revenue from natural gas declined to Rs 451.11 crore in April-June compared to Rs 541.52 crore last year. The income from LPG also came down to Rs 22.21 crore in the quarter under review from Rs 32.52 crore a year ago.
Oil India is a fully integrated upstream petroleum company.