Oil India on Wednesday reported a nearly 9.7 per cent jump year-on-year in standalone net profit to Rs 1,788.28 crore for the fourth quarter of FY23 as compared to Rs 1,630.01 crore a year-ago period.
The state-owned oil compnay also witnessed double-digit growth in revenue driven by the natural gas business.
However, sequentially, the company’s quarterly performance was weak. Compared to December 2023 quarter where PAT stood at Rs 1,746.10 crore, Oil India posted a growth of 2.4 per cent in Q4FY23.
Meanwhile, revenue from operations stood at Rs 5,649.65 crore in Q4FY23, rising by 26.15 per cent from Rs 4,478.61 crore in Q4 of the previous fiscal.
