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Oil India shares hit 52-week high amidst robust profit, revenue growth

All six segments of Oil India - crude oil, natural gas, refinery products, LPG, pipeline transportation, and renewable energy - saw an annual rise in their revenue.

August 09, 2024 / 11:41 IST
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    Shares of Oil India Ltd rose 6.6 percent and hit a 52-week high of Rs 654 on August 9 after the company posted a year-on-year (YoY) increase in its consolidated net profit and revenue for the quarter ended June.

    At 11.20 am, Oil India's shares traded 6.2 percent higher at Rs 651 . The stock has gained over 88 percent in the past six months, vastly outperforming the Nifty 50 which gained 12 percent during the same period. Oil India has been giving positive monthly returns since September 2023.

    In Q1 FY25, Oil India's net profit rose 32 percnt on year to Rs 1,886 crore and revenue rose 46 percent to Rs 9,351 crore.  The expenses incurred by the company during the June quarter rose 45 percent on year to Rs 7,004 crore.

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    All six segments of Oil India - crude oil, natural gas, refinery products, LPG, pipeline transportation, and renewable energy - saw an annual rise in their revenue. The refinery products segment saw its revenue rise at the fastest pace in comparison to the others. Revenue generated from refinery products rose 190 percent on-year to Rs 6,466 crore. Meanwhile, revenue from the renewable energy segment grew by only 3 percent to Rs 36.2 crore.

    The EBITDA of the company fell to Rs 2,628 crore in Q1 FY25 from Rs 2,663 recorded in the year-ago period, the company said in a press release. Its EBITDA margin for the quarter contracted to 43.8 percent in Q1 FY25 from 53.5 percent a year ago.

    Oil India focuses on the exploration, development, and production of crude oil and natural gas, as well as the transportation of crude oil and production of LPG. The company also offers a range of exploration and production (E&P) services for oil blocks.

    Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Moneycontrol News
    first published: Aug 9, 2024 11:41 am

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