Oil India Limited (OIL) posted a rise of 48.29 percent YoY in EBIDTA margin for Q2FY24 and a rise of 50.52 percent YoY for the half year which ended on September 30, 2023.
The rise in EBIDTA was backed by the company’s continued improvement in Crude Oil production, which was higher by 5.70 percent YoY in Q2FY24 at 0.835 MMT.
Crude oil production for the half year ending on September 30 also increased by 5.48 percent to 1.655 MMT vis-a-vis 1.569 MMT for the same period in FY23 .
The company registered an increase of 8.72 percent in its Natural Gas production during Q2FY24 over Q1FY24. The Earnings Per Share for the half year is Rs 17.88/share.