Oil India Sees 'Healthy' Profit In September Gtr Despite Windfall Tax

Highlights
Oil India Ltd is expecting a "healthy profit" for the quarter ending Sept. 30 despite a levy of windfall tax on crude sales, Harish Madhav, head of finance at India's state-run oil producer, said on Saturday.
India imposed a windfall tax on oil producers in July amid claims the industry was making abnormal profits due to a spike in global crude prices. The tax has been reduced from 23,250 Indian rupees ($286) per tonne to 10,500 rupees per tonne to reflect a fall in global oil prices.
The windfall tax has averaged around $25-$26 per barrel during the quarter, leading to Oil India realising $80 a barrel, Madhav told a news conference.
"This is much better than what we had realised earlier. So we should be able to make a healthy profit," he said.
($1 = 81.2500 Indian rupees)
Great Deals on Used Cars
View All Used Cars
- 66,264 km
- Diesel
- Manual

- 49,360 km
- Diesel
- Manual

- 2,322 km
- Petrol+CNG
- Manual

- 42,000 km
- Petrol+CNG
- Manual

- 50,000 km
- Diesel
- Automatic

- 62,246 km
- Petrol
- Automatic

- 74,440 km
- Petrol
- Manual

- 67,000 km
- Diesel
- Manual

- 50,561 km
- Petrol
- Manual

- 25,000 km
- Petrol
- Automatic
Upcoming Cars










Upcoming Bikes










Explore More
Latest News
Related Articles

-7994 second ago
The made-in-India sport bike is powered by a 457 cc parallel-twin engine that puts out a peak 47 bhp.

-6268 second ago
The new Triumph Bonneville Stealth Editions come with special hand-painted colours that change hues depending on the light

-937 second ago
The W175 Street gets alloy wheels and tubeless tyres, aside from new paint finishes

53 minutes ago
The motorcycle, finished in white, features unique mineral erosion artwork by Daniel Arsham on various body panels.

3 hours ago
The updated EV6 is expected to get styling updates in line with its siblings like the EV9 and EV5.

4 hours ago
Hennessey Performance's upgrade for the 2023 Cadillac Escalade-V delivers a power boost, elevating its horsepower from 682 to 1005 and 1196 Nm of torque

5 hours ago
The measures will remain in place till December 31, 2023

22 hours ago
The Kia Sonet facelift is slated to be unveiled on December 14. The leaked brochure reveals details about its specifications, features and variants.

23 hours ago
Enyaq 85 SUV offers over 560 kms of range while the coupe variant sees range increased to over 570 km.

11 months ago
The NSE Nifty 50 index rose 0.27% to settle at 18,562.75, and the S&P BSE Sensex climbed 0.34% to end at 62,504.80, with both notching closing highs for the third straight session.

11 months ago
Russian Urals oil shipments to India accounted for about 40% of the total sea exports of Urals in November, not including the transit of oil from Kazakhstan, which is sold as KEBCO, Reuters calculations showed.

11 months ago
The NSE Nifty 50 index rose 0.27% to settle at 18,562.75, and the S&P BSE Sensex climbed 0.34% to end at 62,504.80, with both notching closing highs for the third straight session.

11 months ago
Russian Urals oil shipments to India accounted for about 40% of the total sea exports of Urals in November, not including the transit of oil from Kazakhstan, which is sold as KEBCO, Reuters calculations showed.
