Oil India Q2 Results: Profit Rises, Revenue Doubles Even As Margins Drop
Oil India's Q2 profit rose on higher natural gas and crude oil sales, even as operating margins fell.
Oil India Ltd.'s, consolidated net profit and revenue from sales for the quarter ended September rose even as margins declined.
The oil and gas explorer's consolidated net profit increased 45.5% year-on-year to Rs 2,115.8 crore in the three months ended September.
Oil India Q2 FY23 Highlights (YoY)
Operating margins dropped to 8.27% compared with 15.2% a year earlier.
Revenue from operations for the second quarter rose to Rs 10,124 crore from Rs 7,254 crore a year ago.
Ebitda at Rs 838.2 crore as against Rs 1,105.82 crore a year earlier.
Revenue from the sale of natural gas rose to Rs 1,184.66 crore from Rs 340.34 crore a year ago. Similarly, crude oil sales jumped to Rs 4,413.1 crore from Rs 2,763 crore over the same period last year.
Sales from the pipeline business contributed Rs 101.8 crore compared to Rs 96.8 crore over the same period last year.
Shares of Oil India closed 0.03% lower in today's trade as compared to a 0.69% drop in the benchmark BSE Sensex.