Oil India Limited (OIL) announced its Q1 FY27 financial results, achieving its highest-ever standalone Profit After Tax (PAT) of ₹2,870 crore. This represents a significant 2.5 times growth year-on-year, propelled by an 11% increase in crude oil production and higher crude oil price realization of USD 98.73/bbl. Consolidated PAT also saw substantial growth of 97% YoY.
Oil India Reports Record Quarterly Performance
Oil India Limited, a Maharatna CPSE under the Government of India, has declared its financial results for the first quarter of FY27 (Q1 FY27). In its 583rd Board of Directors meeting held on August 7, 2026, the company reported its highest-ever standalone Profit After Tax (PAT), reaching ₹2,870 crore. This figure shows a substantial 2.5 times growth compared to the ₹813 crore recorded in Q1 FY26.
Key Growth Drivers
The robust year-on-year growth in standalone PAT was primarily supported by an 11% increase in crude oil production and an improved crude oil price realization of USD 98.73 per barrel in Q1 FY27. Furthermore, the company achieved a consolidated PAT of ₹4,027 crore in Q1 FY27, marking a significant 97% YoY growth from ₹2,047 crore in Q1 FY26.
Production and Operational Highlights
In its ongoing efforts to ensure the nation’s energy security, OIL produced 0.950 Million Metric Tonnes (MMT) of crude oil from its mature oilfields during Q1 FY27, an increase from 0.853 MMT in Q1 FY26. A significant operational milestone was achieved on June 27, 2026, when OIL recorded its highest-ever daily crude oil production of 10,921 MT (84,109 barrels).
Subsidiary Performance and Discoveries
OIL’s material subsidiary, NRL, demonstrated strong performance with a 167% growth in PAT, rising to ₹1,305 crore in Q1 FY27 from ₹488 crore in Q1 FY26. NRL also saw an improved Gross Refinery Margin (GRM) of $35.95/bbl and a Distillate Yield of 87.58%.
The company also reported a discovery of natural gas in the Vijaya Puram-3 exploratory well located in the Andaman Basin, which reaffirms the basin’s hydrocarbon potential. Additionally, OIL successfully completed a highly deviated exploratory well in Assam, achieving the highest-ever horizontal displacement of 3,116 meters for an onshore well.
Source: BSE
