Oil India Q2 profits advance 61% YoY to ₹2,309 crore on higher crude oil rates; ₹7/share dividend declared

State-owned petroleum upstream firm Oil India announced its July to September quarter results for the financial year 2026-27 on Thursday, November 12, in which the company posted a strong growth in profits due to elevated revenues emerging from the higher price of crude oil in the market.

As per the latest NSE filing, Oil India recorded a 61.6% year-on-year (YoY) growth in its consolidated net profit after tax (attributable to owners) to ₹2,309 crore in the second quarter of FY27, in comparison to ₹1,429 crore in the corresponding quarter a year ago.

The company’s revenue from core operations advanced around 30% YoY to ₹11,915 crore in the September quarter of FY27, compared with ₹9,175 crore in the same quarter of the previous financial year.

The revenue gain was largely supported by the higher price of crude oil in the market due to the West Asia conflict between the United States and Iran. Oil India is an oil upstream company which benefits from the higher crude oil prices in the market, as it can sell their production at an elevated price.

Data further showed that the company’s crude oil revenues witnessed a sharp 75% increase to ₹6,146 crore in Q2 FY27, from ₹3,512.25 crore in the same period a year earlier, as per the consolidated statements.

Oil India’s crude oil revenues and the income from refinery products make up for the largest contributor to the company’s overall revenue gains.

Margins improve 822 basis points

Oil India’s operating profit or earnings before interest, tax, depreciation, and amortisation (EBITDA), excluding other income, improved 72% YoY to ₹3,971 crore in the period under review, in comparison to ₹2,303 crore in the same period a year earlier.

The company’s EBITDA margins expanded 822 basis points to 33.32% in the September quarter, from 25.10% in the same period a year earlier.

With the elevated prices in the market, the company’s net profit margins also improved to 21.16% in the September quarter, from 17.92% a year earlier.

Did Oil India announce dividend?

Along with its Q2 results, Oil India’s board of directors also approved an interim dividend of ₹7 per share for the financial year 2026-27, according to the exchange filings on Thursday, November 12.

This means that every eligible shareholder will receive an interim dividend payment of ₹7 apiece, up to one day ahead of the predetermined record date of the corporate action.

Oil India’s board fixed Friday, November 20, 2026, as the official record date of the corporate action to determine the eligibility of the shareholders. The payment for the same is estimated to be credited to the investors on or before December 12, 2026.

Stock performance

NSE data showed that Oil India shares have delivered more than 197% returns to investors in the last five years, and over 113% returns on their investments in the last three-year period.

However, in the last one-year period, the stock has lost 0.2% of its value as of the market close on November 12, 2026.

On a year-to-date (YTD) basis, Oil India shares have risen nearly 3% so far this year, but have declined 0.3% in the last one-month period. The exchange data showed that the stock has been largely flat in the last five market sessions.

Shares of Oil India surged to their 52-week high of ₹531 apiece on May 14, 2026, while the 52-week low was at ₹395.60 apiece on December 10, 2025.

The upstream oil company’s market capitalisation (m-cap) was at ₹71,570 crore as of the closing price on Thursday, November 12, 2026.