Oil India Q2FY22 Results: Consolidated profit jumps 29%; margins surge marginally

The oil marketing company Oil India reported robust earnings for the second quarter of the financial year 2021-22 (Q2FY22) on Wednesday. The company posted double-digit growth in both topline and bottom line, as well as the operating margin, which improved marginally during the quarter. 

Oil India’s consolidated profit grew 29.1 per cent to Rs 1,152 crore in the July-September quarter of FY22, as compared to Rs 892 crore in the same quarter a year ago. While its consolidated revenue jumped 32.7 per cent to Rs 7,254 crore in Q2FY22 as against Rs 5,465 crore in Q2FY21.

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Similarly, the company’s EBITDA surged 34.7 per cent to Rs 2416 crore in the second quarter of FY22 as against Rs 1793 crore in the corresponding quarter of FY21 and margins grew marginally to 33.3 per cent from a 32.8 per cent year-on-year basis.

Along with Q2 results, the board of the company has also declared Interim dividend of Rs 3.50 per share (35 per cent of paid-up capital) for the financial year 2021-22.

The Interim dividend declared shall be paid on or before 10 December, 2021 and has decided Wednesday, 24th November, 2021 as the Record Date for ascertaining the eligibility of shareholders for payment of Interim Dividend 2021-22, Oil India said in a different filing on Wednesday.

The stock closed flat with a positive bias up 0.16 per cent to Rs 222.15 per share on the BSE as compared to 0.13 per cent fall in the S&P BSE Sensex.