This Maharatna Has Posted Over Threefold Surge in Q2 Profits
Net profit for Q2 surged by 223 per cent, reaching Rs 2069.16 crore from Rs 640.36 crore in the same period last year.
Oil India announced its Q2 FY24 results, reporting an impressive 223.1 per cent year-on-year increase in profit, despite a dip in revenue. This substantial growth highlights Oil India’s resilience in managing costs efficiently, even as revenues fluctuate.
Q2 FY25 Financial Performance
Oil India’s revenue for the quarter declined by 7.72 per cent year-on-year, with a more pronounced sequential decline of 12.99 per cent compared to the previous quarter. However, net profit for Q2 surged by 223 per cent, reaching Rs 2069.16 crore from Rs 640.36 crore in the same period last year. This increase was driven by the absence of a one-time exceptional item of Rs 2366.4 crore recorded in Q2 FY24, which had pulled last year’s Q2 profits down to Rs 640.36 crore.
EBITDA for the quarter fell from Rs 3553.19 crore in the previous year to Rs 2535.83 crore. Earnings per share (EPS) for Q2 stood at Rs 12.4, significantly higher than the Rs 2.59 recorded in the same period last year, and up 7 per cent from Rs 11.59 in the previous quarter.
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Stock Performance and Returns
Over the past week, Oil India’s stock delivered an 8.86 per cent return, with a 26.82 per cent return over the past six months, and a remarkable year-to-date return of 111.02 per cent. This robust performance has contributed to a current market capitalization of Rs 85,396.91 crore. Oil India’s stock reached a 52-week high of Rs 767.9 and a low of Rs 195.47.
Disclaimer: This article is for informational purposes only and not investment advice.