Oil India Shares in Focus: Released Q2 FY25 Results

Oil India Limited (OIL), a Maharatna CPSE and a leading energy company in India has demonstrated continued growth in its crude oil and natural gas production

Q2 FY25 Performance

In Q2 FY25, the company achieved a 4.79% increase in crude oil output, reaching 0.875 million metric tons (MMT). For the first half of FY25, crude oil production grew by 5.5%, totalling 1.746 MMT. In addition, natural gas production saw a rise of 3.99%, reaching 1,617 million standard cubic meters (MMSCM) during the same period.

In terms of financial performance, OIL posted a Profit After Tax (PAT) of ₹1,834.07 crore for Q2 FY25. For the half-year ending 30th September 2024, the company’s PAT stood at ₹3,300.91 crore. OIL’s group turnover for the first half of FY25 also saw significant growth, reaching ₹17,486.79 crore, with a PAT of ₹4,085.46 crore. Furthermore, the company reported an Earnings Per Share (EPS) of ₹20.29 for the half-year period.

Agenda’s Approved by Board

• The Board of Directors of Oil India Limited has approved the interim dividend of ₹3 per share (30% of paid-up capital) for the financial year 2024-25. The record date for the interim dividend has been set at November 15, 2024, and it shall be paid on or before December 04  2024.
• The Board approved the formation of a Joint Venture Company (JVC) with M/s Hindustan Waste Treatment Pvt. Ltd. (HWTPL) to take up initiatives for the establishment of Compressed Biogas (CBG) projects with equity holding in the ratio of 50:50, subject to the approval of DIPAM and other authorities.
• Oil India to establish a Joint Venture Company (JVC) with M/s GPS Renewables Pvt. Ltd. (GPSRPL) to set up Compressed Biogas (CBG) projects with equity holding in the ratio of 50:50, subject to the approval of DIPAM and other authorities.
• The company’s Board to form a Joint Venture Company (JVC) with Bharat Petroleum Corporation Limited (BPCL) with equal equity shareholding, subject to necessary approvals from DIPAM and any other authorities, to execute the City Gas Distribution (CGD) project in the Arunachal Pradesh State Geographical Area as authorised by Petroleum and NaturalGas Regulatory Board (PNGRB).

On November 6, 2024, Oil India shares opened at ₹502.05 and touched the day high of ₹507.90 at 09:30 AM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.