New Delhi, May 20, 2024: Oil India Limited, the youngest Maharatna CPSE of Govt. of India, has announced its financial results for FY 2023-24, marking a significant milestone with its highest ever profit after tax of Rs. 2,028.83 crore in Q4 FY24. This represents a 13.45% increase over the same period in the previous year.
The company’s impressive performance is attributed to its highest combined Oil and Gas production (O+OEG) of 6.54 MMTOE, resulting in a record EBIDTA of ₹ 11,643.30 crore for FY24. Despite a decrease in PAT for FY 2023-24 due to statutory compliances, Oil India’s sustained efforts in ensuring nation’s energy security have yielded positive results.
The company’s crude oil production in Q4 FY24 saw a 6% increase over the corresponding quarter in the previous year, with a total production of 3.359 MMT in FY24. Natural gas production also witnessed a growth of 3.21% over the same period.
The Board has recommended a bonus share issue and a final dividend of ₹ 2.50 per equity share (post-bonus), demonstrating the company’s commitment to rewarding its shareholders. With NRL as a group company, OIL’s group turnover for the year stands at ₹ 36,303.62 crore.
