Oil India Q1 Financial Results 2024

The growth comes on the strength of a 5.3% growth in its crude oil production to 0.820 MMT in Q1 of FY 24

Oil India Q1 Financial Results 2024

New Delhi: Oil India Limited, accorded Maharatna status recently by the Govt. of India, posted a rise of 3.7% in its Profit after Tax in the first quarter of FY 24 at Rs 1,613.43 crore against Rs 1,555.49 crore in Q1 of last FY.

The growth comes on the strength of a 5.3% growth in its crude oil production to 0.820 MMT in Q1 of FY 24 vis-à-vis 0.729 MMT produced in Q1 of last FY, coupled with lower operating costs. 

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The Earnings Per Share (EPS) for the period ended 30th June 2023 has increased to Rs 14.88/share as compared to Rs 14.34/share in the previous comparative period, while the EBITDA margin for the period ended 30th June 2023 has increased to 53.49% as compared to 44.76% in the previous comparative period, an increase of 19.51%. 

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Oil India Board, in its 545th Board Meeting, held on 08th August 2023, approved the Q1 FY24 results for the period ending 30th June 2023.

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