New Delhi: Oil India Ltd, the Maharatna public sector enterprise, reported a marginal decline in its consolidated Profit After Tax (PAT) for the third quarter of FY26. The company posted a PAT of ₹1,436 crore in Q3FY26, slightly lower than ₹1,457 crore in Q3FY25.
Consolidated and Standalone Performance
On a standalone basis, Oil India’s PAT fell sharply to ₹808 crore in Q3FY26 from ₹1,222 crore in the same quarter last year. The decline is attributed to a 15% drop in crude price realisation, which fell from USD 73.82 per barrel in Q3FY25 to USD 62.84 per barrel in Q3FY26.
For the nine months ended December 31, 2025, the company’s consolidated PAT stood at ₹5,126 crore, down from ₹5,543 crore in the corresponding period of the previous year.
Revenue from operations remained largely flat at ₹9,111.43 crore, both on a year-on-year and sequential basis.
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Oil & Gas Production Highlights
Oil India continued its focus on energy security, producing 1.659 million metric tonnes of oil equivalent (MMTOE) from its mature and older oilfields in Q3FY26, compared with 1.697 MMTOE in Q3FY25.
The company also achieved its highest daily crude oil production in the past decade, reaching 9,861 metric tonnes by December 31, 2025.
Numaligarh Refinery Posts Robust Profit Growth
Oil India’s subsidiary, Numaligarh Refinery Ltd (NRL), delivered a remarkable 125% jump in PAT, reaching ₹867 crore in Q3FY26 from ₹385 crore in Q3FY25. The refinery reported a gross refining margin (GRM) of $16.27 per barrel, highlighting strong downstream performance amid challenging crude price conditions.
Dividend Announcement
The Board of Directors approved an interim dividend of ₹7 per share, in addition to the first interim dividend of ₹3.50 per share. The record date for the dividend is February 18, 2026.
Shares of Oil India closed flat at ₹487.70 per share on the BSE ahead of the results announcement.
Market Outlook
Despite the decline in crude prices affecting upstream profits, Oil India’s focus on production efficiency and downstream growth through NRL positions the company for sustained performance.
About Numaligarh Refinery Ltd (NRL)
Oil India’s subsidiary, Numaligarh Refinery Ltd (NRL), delivered a remarkable 125% year-on-year growth in PAT, rising to ₹867 crore in Q3FY26 from ₹385 crore in Q3FY25. The refinery reported a gross refining margin (GRM) of $16.27 per barrel, reflecting strong downstream performance. NRL’s robust results helped offset some of the impact of lower crude prices on Oil India’s standalone earnings, highlighting the subsidiary’s strategic importance in the company’s portfolio.
About Oil India Ltd (OIL) Q3FY26 Performance
Oil India Ltd, the Maharatna public sector undertaking (PSU), reported a consolidated PAT of ₹1,436 crore in Q3FY26, slightly down from ₹1,457 crore in Q3FY25. The decline in standalone PAT to ₹808 crore was mainly due to a 15% drop in crude price realisation, which fell from USD 73.82 per barrel in Q3FY25 to USD 62.84 per barrel in Q3FY26.
