Oil India Falls Nearly 1% On Decline In Net Profit In the March quarter

At 11:55 am, Oil India shares were trading at Rs 148.20, lower by 0.8 per cent, on BSE

Oil India shares fell nearly one per cent in a strong market after the company reported a fall in net profit in the March quarter. The company reported an 8 per cent decline in net profit at Rs 847.56 crore in the quarter ended March 2021 from Rs 925.65 crore in the same quarter last year, the company said in a regulatory filing to the stock exchanges. At 11:55 am, the shares of Oil India were trading at Rs 148.20, lower by 0.8 per cent, on the BSE.

Oil India’s average crude oil price realisation in 2020-21 stood at USD 43.98 per barrel compared to USD 60.75 in 2019-20, whic is a decline of 27.61 per cent.

Meanwhile, Oil India said its board recommended a final dividend of Rs 1.50 per share for 2020-21. It had paid an interim dividend of Rs 3.50 per share in February.

The BSE Sensex was trading at 52,963.33, higher by 394.75 points or 0.75 per cent and the NSE Nifty was at 15,873.10, up 125.65 points or 0.79 per cent at the time.