Oil India is planning to raise about $900 million in order to fund its latest stake buy out in Mozambique gas project. State run firm is likely to go for overseas market to raise 80% to 90% of its share of $1 billion in the acquisition. It also expects to have marginal impact of the currency variation on the deal size, which it has to pay from its reserves.
The company has reported a rise of 71.88% in its net profit at Rs 764.55 crore in Q4FY13 as compared to net profit of Rs 444.81 crore in the same quarter previous year. Total income from operation of the company has increased by 37.16% to Rs 2471.75 crore as compared to Rs 1802.12 crore in corresponding quarter last year.
