Oil India Q1FY25, net profit plunges by 28%
State-owned Oil India Ltd. reported a 27.7% drop in its consolidated net profit for the April-June quarter. The company reported a profit of Rs 1,466.8 crore for the June quarter, compared to Rs 2,028.8 crore it had reported for the quarter that ended in March.
Revenue for the period also declined by 3.5% quarter-on-quarter to Rs 5,331.9 crore. Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) grew by 5.6% from the last quarter to Rs 2,466.1 crore, while the EBITDA margin expanded by 400 basis points to 46.3% from 42.3% in March.
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The Shares of Oil India ended 1.2% lower on Thursday at Rs 610.45 ahead of its earnings announcement. The stock has risen 141% so far in 2024 and has increased over 234% over the last 12 months.
Oil India said its total expenses rose nearly 40% to Rs 4,026 crore as its excise duty costs surged over four-fold, offsetting a 26% rise in quarterly revenue to Rs 5,840 crore.
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