Oil India Q3: Net profit slips by 22.8%, margin stood at 42.76%, declares interim dividend

Maharatna Stock, Oil India Ltd has reported a 22.88% year-on-year (YoY) decline in net profit at Rs 1,221.80 crore for the third quarter against Rs 1,584.28 crore in Q3 FY24. 

Revenue for the Maharatna dropped 9.89% to Rs 5,239.6 crore from Rs 5,815.02 crore during the same period in the previous fiscal year. In the third quarter of this fiscal year, EBITDA at the operating level decreased 11.18% to Rs 2,321.34 crore from Rs 2,613.75 crore in the same period last year.

In the reporting quarter, the EBITDA margin was 42.76%, up from 41.34% in the same period the previous year. Earnings before interest, taxes, depreciation, and amortization is known as EBITDA.

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For the nine months (9M) ended December 31, 2024, the company recorded a 4.10% increase in crude oil production, reaching 2.614 million tonnes (MT) compared to 2.511 MT in the corresponding period of FY24. The company's cumulative natural gas production also rose by 2.90% to 2,446 MMSCM, up from 2,377 MMSCM in the same period of the previous fiscal.

The group's profit after tax (PAT) for 9M FY25 increased 19.26% to Rs 5,542.66 crore, compared to Rs 4,647.51 crore in the corresponding period of FY24.

The company’s board has recommended an interim dividend of Rs 7 per fully paid equity share, bringing the total interim dividend declared till Q3 FY25 to Rs 10 per share. Earnings per share (EPS) for the nine months ended December 31, 2024, increased to Rs 27.80 per share from Rs 21.66 per share in the corresponding period of FY24.

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