Oil India Q3 Results: Profit Up 3.12% On Higher Sales
The net profit of the state-run explorer increased 3.12% to Rs 2,607.7 crore in the quarter ended December.
Oil India Ltd's net profit for the third quarter of fiscal 2024 rose on higher sales.
The net profit of the state-run explorer increased 3.12% to Rs 2,607.7 crore in the quarter ended December, according to its exchange filing.
Oil India FY24 Highlights (Consolidated, YoY)
Revenue from operations rose 3.16% to Rs 9,614.28 crore vs Rs 9,299.03 crore a year ago.
Operating profit or Ebitda fell 17.57% to Rs 3,443.23 crore vs Rs 4,176.8 crore a year ago.
Ebitda margin narrowed 910 bps to 35.81% vs 44.91% a year ago.
Segment Revenue
Revenue contribution from refinery products segment was highest at Rs 8,136.1 crore, as compared with Rs 5,892 crore sequentially and Rs 7,635.7 a year ago.
The contribution from crude oil segment was lower at Rs 4,213.3 crore, as against Rs 4,372.1 crore sequentially. But, this was higher than Rs 3,985.9 crore reported a year ago.
Natural gas revenue stood at Rs 1,410.04 crore, as compared with Rs 1,333 crore reported last quarter. However, it was lower than Rs 1,660.3 crore reported a year ago.
Shares of Oil India closed 1.21% higher, as compared with a 0.68% rise in the benchmark Sensex.
