Oil India Limited, a Maharatna Central Public Sector Enterprise under the Government of India, has announced its financial results for the second quarter of the fiscal year 2026-27. The company reported a substantial increase in its standalone Profit After Tax (PAT), which grew by 116% to ₹2,259 crore, compared to ₹1,044 crore in the same period last year. This significant growth is attributed to a 20% rise in crude oil production and a 35% increase in crude oil price realisation, from USD 68.19 per barrel in Q2 FY26 to USD 92.24 per barrel in Q2 FY27.
The company also achieved a consolidated PAT growth of 53%, reaching ₹2,521 crore in Q2 FY27, up from ₹1,644 crore in Q2 FY26. For the half-year ending 30th September 2026, the consolidated PAT was ₹6,548 crore, marking a 77% increase from the previous year’s corresponding period. The standalone PAT for the half-year was recorded at ₹5,130 crore, a remarkable 176% growth compared to ₹1,857 crore in the prior year.
The Board of Directors has recommended an interim dividend of ₹7.00 per fully paid equity share of ₹10 each. Oil India Limited continues to focus on enhancing the nation’s energy security, achieving a crude oil production of 1.021 million metric tonnes (MMT) from its mature oilfields during Q2 FY27, compared to 0.848 MMT in Q2 FY26. The company also recorded its highest daily production of 11,300 metric tonnes (87,051 barrels) on 29th September 2026, the highest in the past decade.
Oil India’s subsidiary, Numaligarh Refinery Limited (NRL), also reported strong operational performance. The refinery’s crude throughput increased to 803 thousand metric tonnes (TMT) in Q2 FY27, up from 753 TMT in the previous year. For the first half of FY 2026-27, crude throughput was 1,594 TMT, compared to 1,552 TMT in the same period last year. NRL maintained a capacity utilisation of over 100%, achieving 106.26% during the first half of FY 2026-27. The distillate yield improved to 87.15%, and the Gross Refining Margin (GRM) rose significantly to USD 28.24 per barrel, a 265% increase from USD 7.73 per barrel in the previous year.
Analysts view Oil India’s robust performance as a reflection of its strategic focus on operational efficiency and market conditions favouring higher crude prices. The company’s continued emphasis on enhancing production capabilities and refining efficiency positions it well for sustained growth in the coming quarters.
