Oil India tumbles after weak Q2FY17 numbers
DSIJ Intelligence / 28 Nov 2016
Oil India declared its Q2FY17 results on Monday. The company’s revenue declined 7.9 per cent to Rs 2331 crore in Q2FY17 as compared to the same period in the previous financial year.
Oil India declared its Q2FY17 results on Monday. The company’s revenue declined 7.9 per cent to Rs 2331 crore in Q2FY17 as compared to the same period in the previous financial year. The company’s EBITDA too reduced 9 per cent to Rs 837 crore in Q2FY17 on a yearly basis. Its EBITDA margin contracted 40 basis points to 35.9 per cent in Q2FY17 as compared to the same period in the previous fiscal year. Oil India’s net profit also decreased 17.8 per cent to Rs 580 crore in Q2FY17 on a yearly basis.
On segmental revenue front, Oil India earned 73.82 per cent from crude oil, 19.66 per cent from natural gas, 3.73 per cent from transportation, 1.84 per cent from others and 0.95 per cent from LPG in Q2FY17.
The Board of Directors of Oil India have recommended issue of bonus shares in the ratio of 1:3 i.e. one bonus equity share of Rs 10 each for every three existing fully paid up equity share of Rs 10 each, subject to the approval of shareholders.
The share price of Oil India declined 2.48 per cent on the bourses after the quarterly results were declared and closed at Rs 427.8.
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