Oil India Limited (OIL), a Navratna company, is the second largest national oil and gas company in India and a state-owned firm of the Government of India. OIL is administered by the Ministry of Petroleum and Natural Gas. Today, the firm announced its Q3 financial results and a 100% dividend to its eligible shareholders.
Oil India in a stock exchange filing today said the board of directors has “declared a second interim dividend of Rs. 10/- per share (100% of the paid-up capital) for the financial year 2022 23. The interim dividend declared to be paid March 12, 2023. Entitlement of shareholders for payment of second interim dividend 2022-23.”
On a consolidated basis, Oil India posted revenue from operations of 10,580.55 crore in Q3FY23 as compared to Rs. 7685.49 Cr over the year-ago quarter, representing a growth of 37.66%. Company recorded net expense 7176.74 crore in the quarter ending December 2022 as compared to Rs. 6243.90 Cr in the quarter ending December 2021, representing a growth of 15% YoY.
Oil India posted Profit Before Tax (PBT) 3264.01 Cr in Q3FY23 as compared to Rs. 2134.01 Cr in Q3FY22, representing a YoY growth of 52.95%. While the net profit of the company reached 2284.41 cr in Q3FY23 against 1297.79 Cr over the year-ago quarter, representing a growth of 76% YoY. Oil India’s EPS reached as compared to 21.07 in Q3FY23 11.97 in Q3FY22.
On segment-wise revenue breakup in Q3 FY2023, the company recorded revenue from crude oil business 3,985.91 crore as compared to 3,056.12 Cr in Q3FY22, while its revenue from natural gas was 1,660.27 Cr in Q3FY23 as compared to Rs. 513.92 crore in Q3FY22. Refinery products revenue in Q3 FY23 stood at Rs 7,635.73 crore 5,965.78 Cr in Q3FY22, while its revenue from LPG business reached 48.08 Cr in Q3FY23 as compared to Rs. 59.30 crore in the year-ago quarter. Meanwhile, revenue from pipeline transportation stood on 163.14 Cr in Q3FY23 as compared to Rs. 88.12 crore in the year-ago quarter, while its revenue from renewable energy reached 19.04 crore in the quarter ending December 2022 23.54 crore in the same quarter last year.
Shares of Oil India Limited closed today on NSE Closes at 223.90, down 2.27% from previous close 229.10.
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