Q3 2024 Oil India Ltd Earnings Call Transcript
Key Points
- Crude oil production increased by 6.07% in Q3 FY24 compared to Q3 FY23.
- Natural gas production increased by 1.99% in Q3 FY24 compared to Q3 FY23.
- EBITDA margin improved to 47.28% for the nine months ended December 31, 2023, from 44.96% in the same period last year.
- Numaligarh Refinery Limited (NRL) reported a profit after tax of INR 858.72 crores in Q3 FY24, up from INR 799.14 crores in Q3 FY23.
- The company is targeting a gas production of 5 BCM by the next two years, indicating future growth potential.
- Average crude oil price realization decreased by 4.74% in Q3 FY24 compared to Q3 FY23.
- Turnover for the nine months ended December 31, 2023, decreased by 7.04% compared to the same period last year.
- Profit after tax for the nine months ended December 31, 2023, decreased to INR 3,523 crores from INR 5,022 crores in the corresponding period last year.
- Provision towards disputed service tax and GST on royalty, including interest, amounted to INR 237 crores in Q3 FY24.
- The group PAT for the nine months ended December 31, 2023, was lower at INR 4,647.51 crores compared to INR 7,874.65 crores for the same period last year.
Ladies and gentlemen, good day, and welcome to the Q3 FY 24 earnings conference call of Oil India Limited hosted by Antique Stock Broking. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Varatharajan Sivasankaran from Antique Stock Broking. Thank you. And over to you, sir.
Thank you, Michelle, and good morning, everyone. I'd like to extend a very warm welcome to all the participants and the management of Oil India Limited. We have with us representing Oil India Shri Harish Madhav, Director Finance; Shri Pankaj Kumar Goswami, Director Operations; Dr. Manas Kumar Sharma, Director E&D; and Shri Sachidananda Maharana, CGM. I would like to hand over the floor to Mr. Harish Madhav for his initial comments and followed by a Q&A.
Thank you, Andreas, and good morning to all the participants and the very to
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