Oil India share price slips up to 4.5% as Q3 profit slips 23% YoY; board recommends interim dividend of ₹7 per share

The PSU on Friday reported a 23% drop in its third-quarter net profit as the price of crude oil produced and sold fell.

Net profit was ₹1,221.80 crore in October-December 2024—the third quarter of April 2024 to March 2025 fiscal (FY25)—compared with ₹1,584.28 crore earned a year back, according to a company statement.

The nation's second-largest state-owned oil and gas producer got USD 73.82 for every barrel of oil produced and sold as against USD 84.14 per barrel realisation in October-December 2023.

EBITDA came lower at ₹2,321.34 crore in Q3 when compared with ₹2,613.75 crore in the previous year. Lower oil prices led to turnover slipping to ₹5,239.66 crore from ₹5,815.02 crore in Q3 of FY24.

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. For the first nine months of the current fiscal year, net profit rose 28% to ₹4,522.71 crore.

"For NINE months ending December 31, 2024, the company registered a cumulative hike of 4.10 per cent in its crude production, which increased to 2.614 million tonnes from 2.511 million tonnes produced in the corresponding period of FY24," the statement said.

"The company also registered a surge of 2.90 per cent in its cumulative gas production by the end of Q3 FY25 to 2,446 million standard cubic meters from 2,377 mmscmd registered during the corresponding period of FY24," it added.

Oil India: Interim Dividend

Oil India's board has recommended an interim dividend of ₹7 per share. With this, the total interim dividend declared by the company till Q3, FY25, is ₹10 per share.

Oil India stock performance

The share price of Oil India has gained nearly 33% in the past year.