Oil India Limited (OIL) has recently announced its financial results for the quarter and half-year ended September 30, 2024. The results reflect a robust performance, showcasing significant growth in net profit despite the challenges in the sector.
Key Financial Highlights:
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- Total Income: OIL’s total income for Q2 2024 reached ₹5,518.95 crore, up from ₹5,085.63 crore in the previous quarter and ₹4,374.58 crore year-over-year. For the half-year, total income increased to ₹11,304.58 crore, compared to ₹10,688.76 crore in the same period last year.
- Net Profit: The company reported a profit before tax of ₹1,974.99 crore for Q2 and a profit after tax of ₹1,834.07 crore for the half-year, marking a significant rise from ₹1,450.54 crore for the same half last year.
- Net Interest Income: With a net interest income of ₹1,834.07 crore for the half-year, OIL demonstrates strong financial management and operational efficiency.
- Revenue and Margins: Quarter-on-quarter, OIL’s revenue was slightly down by 1.6%, from ₹5,332 crore to ₹5,246 crore. EBITDA for the quarter was ₹2,182.98 crore, down 11.5% from ₹2,466.09 crore, leading to an EBITDA margin of 41.6%, down from 46.3%.
Interim Dividend Announcement:
The Board of Directors has declared an interim dividend of ₹3 per share, amounting to 30% of the paid-up capital for the financial year 2024-25. The dividend will be paid to shareholders on or before December 4, 2024, with the record date set for November 15, 2024.
