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Oil India Q2 Earnings: Net Profit at Rs 640 Crore

The financial results for the quarter came after the close of the market hours.

Oil India Limited on 8 November announced its earnings for the July-September quarter of the current fiscal year.

The state-run oil producer reported a 70% year-on-year (YoY) decline in its consolidated net profit at Rs 640.36 crore for the quarter under review from Rs 2,115.83 crore reported in the same quarter last year.

The company’s revenue from the quarter saw a 12.88% YoY decrease to Rs 8.816.47 crore during the quarter from Rs 10,120.6 crore reported in the year-ago quarter.

The company’s EBITDA (earnings before interest, taxes, depreciation and amortisation) for the quarter came in at Rs 1,486 crore against Rs 3,430 crore reported in Q2FY23.

The company has also declared an interim dividend of Rs 3.50 per share (35% of paid-up capital) for the current financial year.

In its filing, the company said that 22 November is the record date for ascertaining the eligibility of shareholders for payment of Interim Dividend 2023-24. The interim dividend of the company will be paid on or before 8 December 2023.

The financial results for the quarter came after the close of the market hours.

At 3:30 pm, the shares of Oil India Limited closed 0.048% higher at Rs 311.80 on NSE.

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