Navratna CPSE Oil India Declares Dividend Of <span Class='webrupee'>₹</span>10, Posts 76% PAT Growth In Q3
Premium- 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 Indian Government.
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 Indian Government. OIL is administered by the Ministry of Petroleum and Natural Gas. Today, the firm announced its Q3 financial results and a 100% dividend for its eligible shareholders.
Oil India said today in a stock exchange filing that the Board of Directors has “declared Second lnterim Dividend of Rs. 10/- per share (100% of paid-up capital) for the financial year 2022 23. The lnterim dividend declared shall be paid on or before 12th March, 2023. decided Wednesday, 22nd February, 2023 as the Record Date for ascertaining the eligibility of shareholders for payment of Second lnterim Dividend 2022-23."
On a consolidated basis, Oil India posted revenue from operations of ₹10,580.55 Cr in Q3FY23 compared to ₹7685.49 Cr in the year-ago quarter, representing a growth of 37.66%. The company recorded net expenses of ₹7176.74 Cr in the quarter ended December 2022 compared to ₹6243.90 Cr in the quarter ended December 2021, representing a growth of 15% YoY.
Oil India posted profit before tax (PBT) of ₹3264.01 Cr in Q3FY23 compared to ₹2134.01 Cr in Q3FY22, representing a YoY growth of 52.95%. Whereas the company's net profit reached ₹2284.41 Cr in Q3FY23 against ₹1297.79 Cr in the year-ago quarter, representing a growth of 76% YoY. The EPS of Oil India reached ₹21.07 in Q3FY23 compared to ₹11.97 in Q3FY22.
On segment-wise revenue breakup, in Q3FY23, the company recorded revenue from the crude oil business at ₹3,985.91 Cr compared to ₹3,056.12 Cr in Q3FY22, whereas its revenue from natural gas stood at ₹1,660.27 Cr in Q3FY23 compared to ₹513.92 Cr in Q3FY22. Refinery products revenue stood at 7,635.73 Cr in Q3FY23 against ₹5,965.78 Cr in Q3FY22, while its revenue from LPG business reached ₹48.08 Cr in Q3FY23 compared to ₹59.30 Cr in the year-ago quarter. Meanwhile, revenue from pipeline transportation stood at ₹163.14 Cr in Q3FY23 compared to ₹88.12 Cr in the year-ago quarter, while its revenue from renewable energy reached ₹19.04 Cr in the quarter ended December 2022 from ₹23.54 Cr in the same quarter last year.
The shares of Oil India Limited closed today on the NSE at ₹223.90 apiece, down by 2.27% from the previous close of ₹229.10.
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