Aim to produce 2.92 bn cubic metres of gas in FY13: OIL

Oil India Ltd (OIL) reported a 21 per cent drop in net profit at Rs 444.81 crore for the fourth quarter ended March 31, 2012, against Rs.1,013.98 crore in the year-ago period. Commenting on the results, TK Ananth Kumar, Director Finance, Oil India told NDTV Profit that the company showed 7 per cent growth in oil and 12 per cent growth in gas despite of subsidy burden. "We aim to produce 2.92 billion cubic metres of gas in FY13," he said.