State-owned oil PSU Oil India Ltd (OIL), known for its consistent dividend payouts, announced that it will release its December quarter (Q3FY25) financial results on February 7, 2025. The company has scheduled a board meeting to discuss and approve the unaudited financial results for both the quarter and nine-month periods ending December 31, 2024, on a standalone and consolidated basis.
Details of the Announcement
In its exchange filing, Oil India stated, “Notice is hereby given that the Board Meeting of the Company has been scheduled on Friday, 7th February 2025, inter-alia to consider and approve the Unaudited Financial Results of the Company for the Quarter and Nine-months ended 31st December 2024 on Standalone and Consolidated basis.”
The upcoming announcement follows a strong financial performance by the company in the preceding quarter.
Performance in Q2FY25
For the September quarter, Oil India reported a consolidated net profit of ₹1,834 crore, marking a 25 percent sequential rise compared to ₹1,466.8 crore in the June quarter. However, revenue from operations declined marginally, slipping 1.6 percent to ₹5,246.2 crore from ₹5,332 crore in the previous quarter.
The company’s EBITDA for Q2FY25 dropped by 11.5 percent to ₹2,183.2 crore from ₹2,466 crore quarter-on-quarter, with margins narrowing from 46.3 percent to 41.6 percent.
On an annual basis, the results were more promising. Oil India recorded a substantial jump in net profit, reaching ₹2,069 crore compared to ₹640 crore in Q2FY24. However, revenue declined by 8 percent year-on-year to ₹8,136 crore from ₹8,816 crore in the same quarter last year.
Dividend Update
In addition to its financial performance, Oil India declared an interim dividend of 30 percent, equivalent to ₹3 per share with a face value of ₹10. The record date for the dividend was set for November 15, 2024, demonstrating the company’s commitment to shareholder returns.
Stock Performance
Oil India’s stock saw mixed trends in recent trading sessions. During intra-day deals, it touched a high of ₹411.25, up 1 percent from the previous close, but also dipped to ₹390.45, marking a 4 percent decline.
From its record high of ₹767.30 in August 2024, the PSU stock has lost nearly 50 percent of its value. Despite this, it remains approximately 45 percent above its 52-week low of ₹269.83, recorded in January 2024.
Over the past year, the stock has risen over 51 percent, reflecting strong investor interest. However, it faced a 7 percent decline in January 2025, following a 12 percent drop in December 2024, signaling a challenging period for the PSU stock.