State-owned Oil India Ltd on Wednesday reported a 21 per cent decline in its net profit for the January–March quarter of FY25, citing lower crude oil and natural gas prices as key factors behind the drop.The company posted a net profit of Rs 1,591.48 crore in the fourth quarter of 2024–25, down from Rs 2,028.83 crore in the corresponding period last year, according to a regulatory filing. Revenue also fell to Rs 6,182.79 crore from Rs 6,589.91 crore a year earlier.Despite the quarterly decline, Oil India achieved its highest-ever combined oil and gas production in FY25, reaching 6.71 million tonnes of oil equivalent, the company said in a statement.Crude oil production during the year ended March 31, 2025, rose by 2.95 per cent to 3.458 million tonnes, while natural gas output increased by 2.20 per cent to 3.252 billion cubic meters.For the full financial year, the company recorded a 10.13 per cent increase in net profit, which stood at Rs 6,114.19 crore.Oil India also reported a significant rise in capital expenditure (capex) utilisation, which more than doubled — increasing by 123.07 per cent — to Rs 8,467.33 crore during FY25.The board of directors recommended a final dividend of Rs 1.50 per equity share, in addition to a 100 per cent interim dividend already paid during the fiscal year.