State-owned oil India on Tuesday reported a marginal increase of 1.5% in its consolidated net profit for the first quarter of FY26 at Rs 2,046.5 crore against Rs 2,016.3 crore in Q1FY25. On a sequential basis, the net profit rose 37% from Rs1,497.97 crore in Q4FY25.
Oil India financials
The company’s revenue from operations during the quarter under review, however, declined 6.4% to Rs 8,749.94 crore, down marginally from Rs 9,350.89 crore in the year-ago period.
Total income stood at Rs 9,005.62 crore during the quarter under review, down from Rs 9,581.78 crore in the same period of last fiscal.
Oil India achieved a standalone profit after tax of Rs 813.48 crore in the first quarter of FY26 against Rs 1,466.84 crore achieved in Q1FY25 due to sharp drop in crude price realisation from $84.89 per barrel in Q1FY25 to $66.20 per barrel in Q1FY26, registering a drop of 22%, the company said.
The company’s consolidated Earnings Per Share (EPS) for Q1FY26 stood at Rs 11.66 per share against Rs 11.59 per share for Q1FY25.
Production and exploration successes
On the production front, continuing its growth, the company sustained its oil & gas production (O+OEG) from its matured and old oilfields in the Northeast at 1.680 million metric tonne of oil equivalent (MMTOE) in Q1FY26 against 1.689 MMTOE in Q1FY25.
During the quarter, OIL made a hydrocarbon discovery at Namrup-Borhat OALP block and commenced gas production from the Bakhritibba Discovered Small Field (DSF) block located in Rajasthan’s Jaisalmer district.
The company’s material subsidiary NRL sustained its crude throughput at 799 thousand metric tonnes during Q1FY26 against 764 TMT achieved in Q1FY25.
Meanwhile, last week GAIL (India) has signed a 15-year Gas Sale and Purchase Agreement (GSPA) with Oil India Limited (OIL), extending their existing arrangement from July 1, 2025. The agreement aims to strengthen domestic natural gas production and enhance energy accessibility in the country.