10 Feb , 2025 By : Debdeep Gupta
Shares of crude oil and natural gas exploration and production major Oil India were trading lower by as much as 4 percent in the early trading session on February 10, following weak Q3FY25 results, announced on February 7.
On Friday, the company released its results for the third quarter of FY25, posting a consolidated net profit that fell 44 percent on-year (YoY) to Rs 1,457 crore against Rs 2,607 crore last year in the corresponding quarter. The company's revenue from operations was also lower than the previous year's corresponding quarter, at Rs 9,089 crore versus Rs 10,912 crore a year ago, down 16.7 percent.
The fall in Oil India's profit comes on account of lower price realization. In the third quarter of this fiscal, the company’s crude oil price realization was at $73.82 per barrel, much lower than the $84.14 per barrel seen during Q3FY24.
Following its fourth-quarter results, Oil India's shares ended Friday with mild cuts at Rs 424.80 per share on the NSE. Over the past 12 months, the stock has gained 30.68%.
Among the 19 analysts covering the company, 15 recommend a 'Buy' rating, one has a 'Hold' and three have a 'Sell' rating, as per Bloomberg data.
Oil India shares trading at Rs 409.50 as of 10:15 am on February 10, which is at a decline of 3.60 percent.
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