Oil India Q2 profit up 24%

Oil India Q2 profit up 24%

Net profit in July-September rose 24.29 per cent to Rs 1,138.52 crore as compared to Rs 916.03 crore in the same period a year ago, OIL Chairman & Managing Director N M Borah told reporters here.

The profit was up despite OIL’s fuel subsidy outgo jumping to Rs 844.44 crore in Q2 from Rs 399.40 crore in the same period a year ago. Turnover was up 50.11 per cent to Rs 3,952.58 million tons.