Oil India’s net profit surged 464% YoY to Rs 2,069 crore in Q2, highlighting strong strategic positioning amid market challenges.
While profits soared, Oil India's Q2 FY24 revenue declined 8% YoY to Rs 8,136 crore, pointing to operational challenges.
Oil India's consolidated profit rose 25% QoQ to Rs 1,834 crore, showing quarterly growth even as revenue slipped.
Oil India launched two new ventures in Compressed Biogas (CBG) with Hindustan Waste Treatment and GPS Renewables-BPCL, supporting its green goals.
Under OALP, Oil India began exploration in Nagaland, with drilling underway in 30 active blocks.
Oil India's stock has surged 107% YTD, vastly outperforming Nifty’s 10% rise, reflecting investor confidence.