Oil India’s Q4FY24 profit up 18%

(20 second reading) Oil India reported a surge of 17.8% in its consolidated net profit for the last quarter of FY24 at Rs 2,332.94 crore against Rs 1,979.74 crore in Q4FY23.The company’s revenue from operations during the quarter under review rose by 16% and came to be at Rs 10,165.78 crore from Rs 8,764.27 in the corresponding period a year ago.
Total income stood at Rs 10,375.09 crore marking a rise of 16% from Rs 8,936.82 crore in Q4FY23.For FY24, the company’s consolidated net profit declined significantly by 29% to Rs 6,980.45 crore. The board of directors of the company has recommended issuance of one bonus share for every two shares held, subject to the approval of shareholders.