OIL's Q3 FY24 EBITDA rise to ₹8,474.47 crore, EBITDA margin improves to 47.28%

Oil India Limited, a leading fully integrated oil & gas Maharatna CPSE, announced its financial results for the nine months that ended December 31, 2023. The company demonstrated resilience and agility in a dynamic market environment, achieving significant milestones across key performance indicators. OIL's EBITDA for the nine months ended December 31, 2023, rose to ₹8,474.47 crore from ₹8,399.17 crore during the corresponding period last year, the EBITDA margin also improved to 47.28% vis-à-vis 44.96%. The Earnings Per Share (EPS) during the period is ₹ 32.49/share.

On the operational front, OIL achieved a commendable 5.68% increase in Crude Oil production, reaching 2.511 MMT compared to 2.376 MMT in the same period last year. Furthermore, the crude oil production is higher by 6.07% in the Quarter ended 31st December 2023 YoY highlighting company's operational efficiency and resource optimization. Natural Gas production during Q3 FY24 increased by 2% over Q3 FY23.

Crude Oil price realization for the nine months ended 31st December 2023 is US$ 82.89 / bbl vis-à-vis US$ 100.27 / bbl for the same period last year. Lower crude oil price realization and lower crude throughput of Numaligarh Refinery Limited on account of turnaround maintenance led to lower group turnover at ₹ 26,137.84 crore vis-à-vis ₹ 32,261.71 crore for the said period.

Shares of Oil India Limited was last trading in BSE at Rs. 470.35 as compared to the previous close of Rs. 466.75. The total number of shares traded during the day was 363925 in over 10348 trades.

The stock hit an intraday high of Rs. 476.25 and intraday low of 443.90. The net turnover during the day was Rs. 169194960.00.

Source : Equity Bulls

Keywords

OilIndia INE274J01014 OIL Q3FY24 9MFY24 ResultUpdate