Shares of Oil India rallied 8.5 per cent to hit eight-month high of Rs 242 per share in Monday’s intra-day trade, after the company reported highest-ever quarterly profit of Rs 1,746.1 crore in the October-December quarter (Q3FY23) from Rs 1,244.9 crore, in the year-ago period.
The state-owned firm’s total income, too, climbed 27 per cent year-on-year (YoY) to Rs 5,981 crore in Q3FY23 from Rs 4,705 crore in Q3FY22. Total expenses, meanwhile, surged 18.1 per cent YoY to Rs 3,678 crore, during the quarter.
With today’s rise in stock price, shares of Oil India have delivered 1.6 per cent returns so far this fiscal year (FY23). That apart, in the past six months, Oil India soared 26 per cent,
