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Oil India reports 70% fall in Q2 consolidated net profit

08 Nov 2023 Evaluate

Oil India has reported results for second quarter ended September 30, 2023 (Q2FY24). 

The company has reported 81.09% fall in its net profit at Rs 325.31 crore for the quarter under review as compared to Rs 1720.53 crore for the same quarter in the previous year. Total income of the company decreased by 0.72% at Rs 6622.55 crore for Q2FY24 as compared to Rs 6670.81 crore for the corresponding quarter previous year. 

On consolidated basis, the company has reported 69.73% fall in its net profit at Rs 640.36 crore for Q2FY24 as compared to Rs 2115.83 crore for the same quarter in the previous year. Total income of the company decreased by 12.08% at Rs 9200.11 crore for Q2FY24 as compared to Rs 10463.87 crore for the corresponding quarter previous year. 

Peers
Company Name CMP
ONGC 222.70
Oil India 442.15
Jindal Drilling&Inds 586.50
Deep Industries 748.55
Asian Energy Service 465.75
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