Oil India Limited Announces Standalone and Consolidated Financial Results for Quarter Ended June 30, 2026

Oil India Limited Announces Standalone and Consolidated Financial Results for Quarter Ended June 30, 2026​

Oil India Limited, a Maharatna Central Public Sector Enterprise (CPSE) under the Government of India, has released its unaudited financial results for the quarter ended June 30, 2026. The company reported both standalone and consolidated performance data detailing revenue, expenses, and profitability across various business segments.

Key Financial Highlights for Q2 FY2026​

The results reflect strong operational performance across both the company and its group entities.

Standalone Financial Performance:
For the quarter ended June 30, 2026, Oil India Limited recorded Total Income of 4,474.74 crore. The company's total expenses stood at 4,737.06 crore, leading to a Profit before Tax and Interest (PBT) of 3,741.72 crore. After accounting for taxes totaling 871.51 crore, the standalone Net Profit for the period was 2,870.21 crore, resulting in a Basic and Diluted Earnings Per Share (EPS) of 17.65.

Consolidated Financial Performance:
On a consolidated level, Oil India reported Total Income of 13,235.10 crore. Expenses amounted to 8,093.53 crore, yielding a PBT of 5,322.17 crore. Following total tax expenses of 1,073.56 crore, the consolidated Net Profit for the quarter was 4,026.83 crore, with Basic and Diluted EPS reported at 22.32.

Segmental Performance Overview​

The company's performance is segmented across Crude Oil, Natural Gas, and other operational areas. The results for both standalone and consolidated reports highlight consistent contributions from core oil and gas segments.

According to the unaudited standalone financial results, the segment PBT for Crude Oil (Including Condensate) was 2,998.64 crore, while the Natural Gas segment reported a PBT of 647.93 crore. The consolidated report shows the Segment PBT for Crude Oil (Including Condensate) at 2,997.77 crore and the Natural Gas segment similarly maintaining 647.93 crore in PBT.

Management Focus on Tax Provisions and Contingent Liabilities​

The financial statements included detailed notes regarding tax demands and provisions related to royalty payments under the Oil Fields (Regulation & Development) Act, 1948.

A significant provision was recorded for Service Tax and Goods and Services Tax (GST) liability on royalty across Assam, Arunachal Pradesh, and Rajasthan. As of June 30, 2026, the company's total provision toward Service Tax and GST on Royalty stood at 5,043.33 crore, which incorporates an interest amount of 996.25 crore.

The company has deposited a substantial portion of this demand under protest amounting to 1,499.62 crore (including an interest component of 11.18 crore), pending the final outcome of the ongoing proceedings.

Regarding state taxation, the results disclose a contingent liability related to a demand of 2,484.81 crore raised by the Government of Assam under the Assam Taxation (on Specified Lands) Act, 1990. This amount was disclosed as a contingent liability despite recent Supreme Court developments concerning the land tax in July 2026.

Diversification and Investments​

The results also reflect the company's activities in joint ventures and associates:

• Joint Venture (JVC) Formation: A Joint Venture Company named "Arunachal Gas Private Limited" was incorporated on November 15, 2025. The JVC is dedicated to the laying, building, operating, and expanding of the City Gas Distribution (CGD) network in Arunachal Pradesh. Oil India holds a 50/50 equity participation in this venture with Bharat petroleum Corporation Limited.
• Interim Operations: The statements include interim financial results for numerous joint operations, including those related to hydrocarbon exploration and licensing blocks, which are subject to management certification.

Financial Risk Indicators​

The Additional Disclosures highlighted the company's standing across several key financial ratios (all figures in crore unless otherwise specified):

Independent Cost Auditor Appointment​

The company also confirmed the appointment of M/s Shome & Banerjee as the Cost Auditor for the financial year 2026-27.

OIL Stock Price Movement​

On Friday, shares of Oil India Limited slipped by 0.27%, settling at ₹442.80 in response to market movements. The equity recorded a trading volume of 4.23 million shares during the session.