Oil India Q4 results: Standalone PAT rises 9.7% to Rs 1,788 crore; PSU’s board announces Rs 5.5/share dividend

Oil India Q4 Results: Oil India on Wednesday reported a standalone net profit of Rs 1,788.3 crore for the quarter ended March 2023, marking an increase of 9.7 per cent compared with the corresponding period a year ago.

Its revenue expanded 26.1 per cent on a year-on-year basis to Rs 5,649.7 crore, according to a regulatory filing.

For the full year, which ended on March 31, 2023, the state-run oil company reported its highest ever net profit, of Rs 6,810.4 crore, driven by higher operating income, and growth in the production of oil and gas, according to a statement. 

"The company, over the last six decades, continued its journey of growth in oil & gas production from its matured and recently discovered oilfields during the last fiscal (year), with 5.5 per cent growth in oil production at 3.18 MMT and 4.4 per cent growth in gas production at 3.18 BCM, which scaled another height of registering the highest ever gas production by the company ever since its inception," Oil India said. 

Oil India dividend

Oil India's board recommended a final dividend of Rs 5.5 per share for the financial year 2022-23 — a 55 per cent payout given the face value of Rs 10 per share. 

With that, the company took its total dividend to Rs 20 per share for the financial year.

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.