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Oil India net down 3.9 per cent

Oil India Ltd has reported a decline of 3.97 per cent in net profit to INR 902.96 crore for the quarter ended December 31 from INR 940.29 crore for the corresponding period a year ago. The turnover grew by 8.49 per cent to INR 2730.38 crore from INR 2516.82 crore. The company said that gross crude oil price realisation for fiscal 2014 is $106.44 a barrel compared with $109/barrel in the nine-month period of fiscal 2013 and the net realisation during nine month of fiscal 2014 is $50.44 a barrel compared with $53 a barrel.

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