New Delhi: Oil India Limited (OIL), a Maharatna Central Public Sector Enterprise (CPSE) under the Government of India, has reported strong financial and operational performance for the second quarter (Q2) of the financial year 2026-27. The company announced its financial results at the 586th meeting of its Board of Directors, held in New Delhi on November 12, 2026.
The company recorded a 53% growth in consolidated Profit After Tax (PAT), reaching ₹2,521 crore in Q2 FY27, compared to ₹1,644 crore in the corresponding quarter of the previous financial year.
For the first half of FY27, consolidated PAT stood at ₹6,548 crore, registering a growth of 77% compared to ₹3,690 crore in the corresponding period of FY26.
OIL Records 116% Growth in Standalone PAT
OIL reported a significant 116% increase in standalone PAT, which rose to ₹2,259 crore in Q2 FY27 from ₹1,044 crore in Q2 FY26.
This strong growth was driven by a 20% increase in crude oil production and a 35% rise in crude oil price realisation. The average crude oil price realisation increased from USD 68.19 per barrel in Q2 FY26 to USD 92.24 per barrel in Q2 FY27.
The company also achieved its highest-ever standalone PAT for the first half of FY27, reaching ₹5,130 crore, compared to ₹1,857 crore in the corresponding period of the previous year. This represents a growth of 176%.
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Board Recommends Interim Dividend of ₹7 Per Share
Considering the company’s strong financial performance, the Board of Directors has recommended an interim dividend of ₹7 per fully paid-up equity share of ₹10 each.
Crude Oil Production Increases by 20%
As part of its continued efforts to strengthen India’s energy security, OIL maintained strong crude oil production from its mature and ageing oilfields.
The company produced 1.021 million metric tonnes (MMT) of crude oil in Q2 FY27, compared to 0.848 MMT in the corresponding quarter of the previous year.
OIL also achieved its highest daily crude oil production in the last decade, reaching 11,300 metric tonnes (87,051 barrels) on September 29, 2026.
Highest-Ever Half-Year Drilling Performance
OIL achieved a major operational milestone during the first half of FY27 by drilling 42 wells, marking its highest-ever half-year drilling performance.
This achievement sets a new benchmark in the company’s operational performance and reflects its continued efforts to strengthen exploration and production activities.
NRL Reports Improvement in Refinery Performance
OIL’s material subsidiary, Numaligarh Refinery Limited (NRL), continued to deliver strong operational performance, supported by improved efficiency and effective refinery management.
NRL’s crude throughput reached 803 thousand metric tonnes (TMT) in Q2 FY27, compared to 753 TMT in the corresponding quarter of the previous year.
For the first half of FY27, crude throughput stood at 1,594 TMT, compared to 1,552 TMT in H1 FY26.
The refinery also maintained capacity utilisation above 100%, achieving 106.26% during H1 FY27, compared to 103.48% in the corresponding period of the previous year.
Additionally, distillate yield improved to 87.15% from 86.64%, reflecting the company’s continued focus on operational efficiency and product optimisation.
NRL’s Gross Refining Margin Records 265% Growth
NRL registered a significant improvement in its refining performance, with its Gross Refining Margin (GRM) rising to USD 28.24 per barrel during the half year ended September 30, 2026.
This compares with USD 7.73 per barrel during the corresponding period of the previous year, representing a strong growth of 265%.
The improvement highlights NRL’s strong refining performance and its focus on operational efficiency.
About Oil India Limited
Oil India Limited (OIL) is a Maharatna Central Public Sector Enterprise under the Ministry of Petroleum and Natural Gas, Government of India. The company is engaged in the exploration, development and production of crude oil and natural gas, along with transportation and related energy activities. Through its operations and subsidiaries, OIL plays an important role in strengthening India’s energy security.
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