Oil India Limited (OIL) has posted its highest-ever standalone quarterly profit after tax (PAT) of Rs. 2,870 crore in Q1 FY27, marking a sharp 2.5-fold year-on-year increase from Rs. 813 crore in the corresponding quarter last year.

 

The strong performance was driven by an 11% increase in crude oil production, coupled with crude oil price realisation of USD 98.73 per barrel during the quarter.

 

On a consolidated basis, the company reported a PAT of Rs. 4,027 crore, up 97% from Rs. 2,047 crore in Q1 FY26.

 

OIL’s crude oil production rose to 0.950 million tonnes (MMT) in Q1 FY27 from 0.853 MMT a year earlier, as the company stepped up output from its mature oilfields in its push to strengthen India’s energy security.

 

The company also achieved its highest-ever daily crude oil production on June 27, 2026, at 10,921 tonnes, equivalent to 84,109 barrels.

 

OIL’s material subsidiary, Numaligarh Refinery Limited (NRL), delivered a standout performance, with PAT surging 167% year-on-year to Rs. 1,305 crore in Q1 FY27 from Rs. 488 crore in Q1 FY26.

 

NRL’s gross refining margin (GRM) also climbed sharply to USD 35.95 per barrel, compared with USD 5.02 per barrel a year earlier. Distillate yield improved to 87.58%, from 85.38% in Q1 FY26.

 

OIL also reported a significant natural gas discovery in the Vijaya Puram-3 exploratory well in the Andaman Basin, reinforcing the basin’s hydrocarbon potential.

 

In Assam, the company successfully completed a highly deviated exploratory well, recording a horizontal displacement of 3,116 metres—the highest ever achieved by OIL in an onshore well in the state.

 

The record quarterly profit, higher crude production and exploration successes underline OIL’s strengthening operational performance as the company continues to expand its contribution to India’s energy security.