Oil India Q1FY24 Results: Net Profit Down 10% To Rs 1,613 Crore

State-owned Oil India posted 10% fall in standalone net profit to Rs 1613.43 Crore for the June quarter of FY24 as compared to Rs 1788.28 Crore in the March quarter of FY23. Revenue fell 16% to Rs 4,531.2 Crore in Q1FY24 from Rs 5,394.4 Crore in Q4FY23.

Compared to the Q4FY23, the company's profits before interest, taxes, depreciation, and amortisation (EBITDA) were reported to have fallen by 0.8% to 2,329.1 Crore in Q1FY24. In comparison to Q4FY23's 43.5%, the margin in the June quarter was 51.4%.

The shares of Oil India closed at Rs 273.60 per share on BSE with an intraday high and low of Rs Rs 274.90 and Rs 270.50, respectively. The shares have fallen 0.22% in 1 week, while jumped 17.99% in 6 months. In 1 year, it gained 38.31%.

Early in this month, on Aug 01, the stock hit 52-week high at Rs 277.70 per share, whereas, it hit 52-week low on Sept 29, 2022, at Rs 168.30 per share.