Oil India dropped nearly 3% to Rs 565 after the company’s net profit fell 26% to Rs 565.62 crore on 23.2% fall in net sales to Rs 1,825.22 crore in Q4 March 2014 over Q4 March 2013.
On consolidated basis, Oil India's net profit declined 18.09% to Rs 2, 941.98 crore on 2.53% fall in total income from operations (net) to Rs 9,715.71 crore in the year ended 31 March 2014 over the year ended 31 March 2013.
Till 27th May, the oil stock had performed better than the market, gaining almost 17% compared with 8.2% rise in BSE’s benchmark index, Sensex.
The oil scrip opened at Rs 579.25 and hit a high of Rs 569.95 and a low of Rs 560 so far during the day.
