By THE NEWSMAN OF INDIA.COM| Oil India Limited (OIL), a Maharatna CPSE under the Government of India, announced its financial results for Q1 FY2026-27 at the 583rd meeting of its Board of Directors held on August 7, 2026.

The company reported its highest-ever quarterly standalone Profit After Tax (PAT) of ₹2,870 crore in Q1 FY27, compared with ₹813 crore in the corresponding quarter of the previous year, registering a 2.5-fold year-on-year growth. The strong performance was driven by an 11% increase in crude oil production and a higher crude oil price realisation of USD 98.73 per barrel during the quarter.

On a consolidated basis, OIL posted a PAT of ₹4,027 crore in Q1 FY27, up 97% from ₹2,047 crore recorded in Q1 FY26.

Strengthening India’s energy security, the company produced 0.950 million metric tonnes (MMT) of crude oil from its mature oilfields during the quarter, compared with 0.853 MMT in Q1 FY26. OIL also achieved its highest-ever daily crude oil production of 10,921 metric tonnes (84,109 barrels) on June 27, 2026.

OIL’s material subsidiary, Numaligarh Refinery Limited (NRL), delivered an exceptional performance, reporting a 167% increase in PAT to ₹1,305 crore in Q1 FY27 from ₹488 crore in Q1 FY26. The refinery recorded a Gross Refining Margin (GRM) of USD 35.95 per barrel against USD 5.02 per barrel a year earlier, while its distillate yield improved to 87.58% from 85.38%.

The company also strengthened its exploration portfolio by discovering natural gas in the Vijaya Puram-3 exploratory well in the Andaman Basin, reaffirming the basin’s hydrocarbon potential. Additionally, OIL successfully completed a highly deviated exploratory well in Assam, achieving the highest-ever horizontal displacement of 3,116 metres for an onshore well, marking another technological milestone in its exploration activities.

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