Moneycontrol Bureau
State-run oil exploration company Oil India has reported profit of Rs 580.3 crore in July-September quarter, down 17.8 percent compared with Rs 705.7 crore in year-ago period. Lower revenue and operational income dented bottomline.
Revenue during the quarter declined 7.9 percent year-on-year to Rs 2,331.4 crore and other income was also down 9.3 percent to Rs 389.5 crore.
EBITDA (earnings before interest, tax, depreciation and amortisation) fell 9 percent to Rs 836.5 crore and margin contracted by 40 basis points to 35.9 percent.
The company said it board of directors today has recommended issue of bonus shares in the ratio of one bonus share for every three shares held.
At 15:02 hours IST, the stock was quoting at Rs 428.10, down Rs 8.80, or 2.01 percent on the BSE.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
