Oil India Q2 Results Live : Oil India has reported its Q2 results for the fiscal year 2024, announcing a remarkable profit increase of 379.29% year-on-year. This substantial growth comes despite a decline in revenue, which fell by 7.72% compared to the same period last year.
In comparison to the previous quarter, Oil India’s revenue saw a more significant decline of 12.99%. However, the company’s profit demonstrated resilience with a sequential increase of 6.93%. This reflects the company’s ability to manage costs effectively, even amid fluctuating revenues.
The company’s selling, general, and administrative expenses have shown a slight increase of 2.16% quarter-on-quarter, but there was a decrease of 3.9% year-on-year, indicating a disciplined approach to spending. Meanwhile, the operating income surged by 27.65% quarter-on-quarter and increased by an impressive 402.64% year-on-year.
Earnings per share (EPS) for the second quarter stood at ₹12.4, a decrease of 47.38% compared to the same quarter last year. This decline in EPS may raise concerns among investors, despite the overall profit growth.
Over the past week, Oil India has seen a return of 3.37%, with a notable 16.77% return over the last six months, and an outstanding year-to-date return of 99.76%. This performance has contributed to a current market capitalization of ₹80,614.68 crore.
Oil India’s stock performance has been robust, with a 52-week high of ₹767.9 and a low of ₹195.47. Analysts remain optimistic, with a consensus recommendation to ‘Buy’ as of November 6, 2024. Out of 17 analysts covering the company, only one has given a ‘Strong Sell’ rating, while ten analysts have rated it as ‘Strong Buy’.
As Oil India continues to navigate its financial landscape, investors will be keenly watching how the company addresses revenue fluctuations while maintaining its impressive profit margins in the upcoming quarters.
