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Oil India Ltd back in black on lower taxes

India covid-19 experts 2020
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₹925.64 crore compares with a loss of ₹208.54 crore in the same period a year back, the company said in a statement State-owned Oil India Ltd (OIL) has reported a net profit of ₹925.64 crore for the March quarter as opposed to a loss last year as lower corporate tax offset a dip in oil and gas prices.Net profit in January-March at ₹925.64 crore compares with a loss of ₹208.54 crore in the same period a year back, the company said in a statement.The company said it opted for the new concessional tax regime, paying an effective tax rate of 25.17 per cent in lieu of giving up exemptions.

Current corporate tax rate is 35 per cent."This has resulted in reversal of deferred tax liability of ₹821.01 crore during 2019-20," the statement said.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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Prince William shares health update on Kate Middleton after her cancer diagnosis
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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