Oil India Limited to announce its Q2 results today
NEW DELHI: The government of India owned hydrocarbon exploration company, Oil India Limited is all set to declare its Q2 earnings today i.e. November 9, 2019. Oil India Limited reported a 33.4% YoY (year-on-year) climb in its net profit to Rs 862 crore in Q2 of the previous fiscal.
With a dip in the domestic production of crude oil and natural gas and rising dependency on imports to cater to climbing demand, investors and market analysts are eagerly waiting for OIL’s performance chart in the second quarter of 2019. The company was quoting at Rs 165.55 (NSE) and at Rs 165.25 (BSE) at 15:59 am on November 8, 2019.
In the latest quarter of 2019, OIL displayed an 11% fall in its profit to Rs 624.80 crore. As the Indian government looks to cut down oil import dependence in the next couple of years, the Q2’19 earnings of Oil India Limited will be intriguing to look upon.
