News Axis

OIL posts Rs 1,690 net in 2005-06

NEW DELHI: Oil India has posted a net profit of Rs 1,689.93 crore in 2005-06 compared to Rs 1,061.68 crore in corresponding period previous year. The company has recorded an income of Rs 6,036.56 crore in 2005-06, which is 46% higher than the income of the firm in the previous fiscal, according to a company statement. “The increase in income and profit were mainly on account of higher sales volume of crude oil and natural gas, including increase in crude oil price. The crude oil sales during the year 2005-06 was 3.16 MMT and natural gas sales was 1.74 BCM, ”