Oil India, a central public sector undertaking, said on February 28 that its board of directors will meet to consider a second interim dividend for fiscal year 2023-24 on March 8.
The dividend will be declared on the same date if it receives the board nod, as per a regulatory filing.
Oil India had, in November, declared the first interim dividend for FY24 of Rs 3.5 per equity share.
The PSU reported steady quarterly results for the October-December period, with its net profit coming at Rs 1,584.3 crore, nearly five times higher as compared to Rs 325.3 crore in the preceding quarter.
The revenue from operations, however, slipped marginally to Rs 5,323.7 crore, as compared to Rs 5,342.3 crore in the second quarter.
The earnings before interest, taxes, depreciation, and amortisation in the quarter ended December 2023 came in at Rs 2,105.7 crore, down 15.4 percent sequentially.
Oil India, on February 26, announced its first-ever global partner roadshow in the United Arab Emirates, which is aimed at drawing collaborations with global energy majors. The event, titled "Confluence: Where Energy and Opportunity Converge", was to be held in Abu Dhabi on February 28.
The company, notably, has adopted aggressive targets for the coming fiscals, including 4 MMT oil production and 5 BCM gas production by 2025-26.
In the trading session on February 28, Oil India's scrip edged in the red. The shares settled at Rs 567.30 apiece on the BSE, down 1.36 percent as against the previous day's close.
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!
