The Company also announced final dividend of Rs30 per share, taking full year payout to Rs50 per share.
Earnings during 4Q declined as revenue of the Company declined by 48%YoY to Rs5.7 billion on the back of 60%YoY decline in Arab light crude oil prices (US$27 per barrel as against US$68 for 4QFY19). Sequentially, revenue declined by 48% amidst 50% decline in oil prices.
Oil production during the quarter under review declined by 22%QoQ as production from Tal block remained muted due to lockdown which caused disruption in refinery operations.
Royalty expense was 10.3% of sales, broadly in line with its previous two quarters trend.
Operating cost declined to US$6.07 per boe, down by 17% from US$7.3 per boe for 3QFY20.
Other income declined by 66%QoQ and 73%YoY due to absence of heavy exchange gains.