Earnings Review
Oil India Q3 PAT falls 34% on year, misses Street estimates
This story was originally published at 18:55 IST on 10 February 2026
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--Oil India Oct-Dec net profit INR 8.08 bln
--Analysts saw Oil India Oct-Dec net profit at INR 8.84 bln
--Oil India Oct-Dec revenue INR 49.16 bln
--Analysts saw Oil India Oct-Dec revenue at INR 51.47 bln
--Oil India Oct-Dec net profit INR 8.08 bln vs INR 12.22 bln year ago
--Oil India Oct-Dec revenue INR 49.16 bln vs INR 52.40 bln year ago
--Oil India Apr-Dec net profit INR 26.66 bln vs INR 45.23 bln year ago
--Oil India Apr-Dec revenue INR 153.85 bln vs INR 165.98 bln year ago
--Oil India to pay INR 7 per share second interim dividend
--Oil India second interim dividend record date is Feb 18
--Oil India Q3 crude oil revenue INR 32.66 bln vs INR 36.58 bln yr ago
--Oil India Q3 natural gas revenue INR 14.26 bln vs INR 13.82 bln yr ago
--Oil India Oct-Dec operating margin 13.58% vs 30.65% year ago
By Shruti Nair
MUMBAI - Oil India Ltd. reported a significant year-on-year decline in its net profit for the December quarter on higher expenses. The oil manufacturer's net profit missed the Street's expectations. The company's revenue from operations fell modestly on year.
The state-owned oil explorer's bottom line was INR 8.08 billion for the December quarter, down nearly 34% on year. Analysts had expected the company's net profit to be INR 8.84 billion. This is the fifth consecutive quarter that the company's bottom line has fallen. The company's December quarter revenue from operations was INR 49.16 billion, down over 6% on year. Analysts had estimated the company's revenue at INR 51.47 billion.
The company's total income was INR 54.63 billion for the December quarter, marginally higher than the year-ago quarter. The company's total income was boosted by a nearly 190% increase in other income.
The upstream company's revenue from its crude oil segment was INR 32.66 billion for the December quarter, down nearly 11% on year. The crude oil segment accounts for the largest share of the company's revenue from operations. Analysts had anticipated a decline in the segment's revenue amid a fall in global crude oil prices. The only other segment to see a decline in revenue was renewable energy, which fell by over 25% to INR 143.40 million in the December quarter.
The increase in the oil company's total expenses dragged the bottom line. The company's total expenses were INR 45.15 billion for the December quarter, up over 16% on year. Of which contract costs rose nearly 77% on year to INR 8.92 billion and other expenses rose 32% on year to 9.20 billion. Depreciation, depletion, and amortisation expenses rose nearly 22% on year to 6.41 billion.
The company has declared a second interim dividend of INR 7 per share with Feb. 18 as the record date.
The oil explorer's operating margin was 13.58% for the quarter ended December, down from 30.65% in the year-ago quarter.
The company's net profit in Apr-Dec was INR 26.66 billion, down over 41% from the year-ago period. The company's revenue for the period fell to INR 153.85 billion, down over 7%.
Tuesday, the company's shares ended at INR 488.85 on the National Stock Exchange Tuesday, down 0.2% from the previous close. The company declared its December quarter results after market hours. End
Edited by Saji George Titus
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