Oil India Q3 results: Net profit falls over 23% to ₹1,222 crore, board greenlights second interim dividend

The decrease in net profit came on the back of a fall in price of crude oil produced and sold. The nation's second-largest state-owned oil and gas producer got $73.82 for every barrel of oil produced and sold as against $84.14 per barrel realisation in October-December 2023.

Its total income stood at ₹5,428.29 crore in Q3 of the 2024-25 fiscal. The company noted a 14.15% YoY drop from ₹6,323.02 crore in the third quarter of the 2023-24 financial year (Q3 FY24).

Moreover, the PSU declared a 9.89% YoY decline in its turnover to ₹5,239.66 crore in Q3 FY25 in contrast to ₹5,815.02 crore in Q3 FY24.

The company’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) was at ₹2,321.34 crore, contracting 11.19% YoY from ₹2,613.75 crore in the October-December quarter last year. Its EBITDA margin increased to 42.76% in the December quarter of FY25 versus 41.34% in the year-ago period.

The company's oil and gas production was almost unchanged at 0.868 million tonnes and 0.829 billion cubic meters respectively in October-December 2024.

Revenue from segments

The PSU’s revenue from operations stood at ₹5,239.65 crore, slipping 9.89% from ₹5,815.02 crore in the three months ended December 31, 2023. It derives its revenue from sources such as crude oil, natural gas, LPG, pipeline transportation and renewable energy.

The company’s revenue from crude oil declined 13.18% YoY to ₹3,657.88 crore in Q3 FY25 from ₹4,213.33 crore in Q3 FY24. Its revenue from natural gas also fell 1.98% to ₹1,382.12 crore from ₹1,410.04 crore. Its LPG revenue stood at ₹34.06 crore, down 17.09% from ₹41.08 crore.

Oil India reported a 7.68% increase in its revenue from pipeline transportation to ₹146.46 crore in Q3 FY25, compared to ₹136.02 crore in the same period last year. Its revenue from renewable energy stood at ₹19.14 crore, jumping 31.55% from ₹14.55 crore in Q3 FY24.

Board declares second interim dividend

Oil India’s board of directors greenlit its second interim dividend of ₹7 per share (70% of paid-up capital) for the Financial year 2024-25.

The company said it would make the dividend payment on or before March 8, 2025, and set February 17, 2025, as the record date.

“With this, the total interim dividend declared by the company till Q3 FY25 ( is ₹10 per equity share,” the PSU said in a press release.

Shares of Oil India closed in the red at ₹424.25 apiece, down 0.18 % on the National Stock Exchange on Friday. However, the company released its Q3 FY25 report card after market hours.