Oil India Q3 Profit Falls 23% YoY, Revenue Down 10%

Oil India Ltd reported a 22.88% drop in net profit, earning ₹1,221.80 crore in the December 2024 quarter, compared to ₹1,584.28 crore in the same period last year.

The company’s revenue declined by 9.89% YoY, falling to ₹5,239.6 crore from ₹5,815.02 crore, reflecting a slowdown in earnings. EBITDA slipped by 11.18% to ₹2,321.34 crore, down from ₹2,613.75 crore last year, indicating pressure on operational performance. Despite lower earnings, EBITDA margin improved slightly to 42.76%, up from 41.34%, suggesting that the company managed costs more efficiently.

Crude oil production saw a 4.10% increase, reaching 2.614 million tonnes (MT) in the nine months ending December 31, 2024, compared to 2.511 MT in the same period last year.

Natural gas production also rose by 2.90%, climbing to 2,446 MMSCM, up from 2,377 MMSCM in 9M FY24. For the nine-month period, profit after tax (PAT) increased by 19.26%, reaching ₹5,542.66 crore, up from ₹4,647.51 crore in the same period last year.

The company’s board announced an interim dividend of ₹7 per equity share, bringing the total interim dividend for Q3 FY25 to ₹10 per share. Earnings per share (EPS) rose to ₹27.80, compared to ₹21.66 per share in the previous year, reflecting steady long-term growth. Despite a weaker quarter, Oil India continues to expand its oil and gas production, maintaining profitability and rewarding shareholders with strong dividends.