Oil India Q4 profit rises as crude production hits decade high; dividend declared

Oil India Ltd. (OIL) reported a strong standalone performance for the fourth quarter of FY26 on May 13, aided by higher crude oil production and improved price realisations.

Net profit rose to ₹1,790 crore in Q4FY26 from ₹1,591 crore in the year-ago period and ₹808.3 crore in the previous quarter. The company attributed the growth to a 6% increase in crude oil production and a 5% rise in crude oil price realisation to $77.89 per barrel from $74.46 per barrel a year earlier.

Revenue for the quarter increased 21.2% sequentially to ₹5,960.6 crore from ₹4,916 crore, while EBITDA rose 39.1% to ₹1,820.5 crore from ₹1,308.4 crore in the previous quarter.

EBITDA margin improved to 30.5% from 26.6% sequentially.

The board recommended a final dividend of ₹1 per equity share for FY26. This is in addition to the first and second interim dividends of ₹3.50 and ₹7 per equity share already paid during the year.

The company said it produced 0.891 million metric tonnes of crude oil during Q4FY26, compared with 0.844 MMT in the corresponding quarter last year. Oil India also achieved its highest daily crude oil production in the last decade at 10,566 metric tonnes.

During FY26, the company drilled 74 wells and completed a record 307 workover jobs, both the highest ever for the company. It added that aggressive drilling and workover campaigns helped it achieve a reserve replacement ratio exceeding one during the year.

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Ahead of the earnings announcement, shares of Oil India closed 2.86% higher at ₹505 on the NSE.