Oil India's Q1 boils down

State run Oil India has managed to turn profitable in Q1FY17 but has underperformed as compared to Q1FY16. In Q1FY17, total income from operation of the company has plunged by 23 per cent. EBITDA in Q1FY17, stands at Rs 862.89 crores, which has decreased by 29 per cent as compared to Q1FY16. Net profits in Q1FY17 stand at Rs 494.41 crores, which have plunged by 34 per cent as compared to corresponding quarter of the previous fiscal.

Similarly, revenue from natural gas has declined to Rs 451.11 crore in Q1FY17 as compared to Rs 541.52 crore in Q1FY16. The income from LPG also has come down to Rs 22.21 crore in the quarter under review from Rs 32.52 crore a year ago.Scrip of the company could see a significant movement on September 7. However in the last 3 months, shares have given a return of 11 per cent; in the last 6 months shares have rallied over 26 per cent. Shares of the company have opened at Rs 395, up by 1.48 per cent. Fifty-two-week High/Low of the company stands at Rs 466.70/300.50.

Oil India is engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG.