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Oil India firms up after strong Q3 outcome

Capital Market 

Oil India rose 1% to Rs 171.50 at 12:17 IST on BSE after net profit rose 74.9% to Rs 1,233.45 crore on 23.2% increase in net sales to Rs 3,514.03 crore in Q3 December 2018 over Q3 December 2017.

The result was announced after market hours yesterday, 12 February 2019.

Meanwhile, the S&P BSE Sensex was up 95.36 points, or 0.26% to 36,248.98.

On the BSE, 1.79 lakh shares were traded in the counter so far compared with average daily volumes of 51,000 shares in the past two weeks. The stock had hit a high of Rs 176.80 and a low of Rs 170.40 so far during the day. The stock hit a 52-week high of Rs 247.45 on 18 May 2018. The stock hit a 52-week low of Rs 166.15 on 30 January 2019.

The board of directors of Oil India in its meeting held on 12 February 2019 declared interim dividend of Rs 8.50 per share of Rs 10 each for the year 2018-2019. The record date for determining entitlement for payment of interim dividend for the financial year 2018-19 is 22 February 2019.

Oil India is a premier Indian national oil company engaged in the business of exploration, development and production of crude oil and natural gas, transportation of crude oil and production of LPG. OIL also provides various E&P related services and holds 26% equity in Numaligarh Refinery.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 12:14 IST