Oil India on Wednesday reported a nearly 9.7 per cent year-on-year jump in standalone net profit to Rs 1,788.28 crore for the fourth quarter of FY23 as compared to Rs 1,630 crore a year-ago period.
The state-owned oil compnay also witnessed double-digit growth in revenue driven by the natural gas business.
Sequentially, the company's quarterly net profit rose 2.4 per cent. In the previous quarter, profit after tax had stood at Rs 1,746.10 crore.
Profit for the full year of 2022-23 rose 75 percent to Rs 6,810 crore from Rs 3,887 crore in the previous year. Meanwhile, annual overall revenue climbed 60 percent to Rs 23,273 crore from 14,530 crore.
Operational revenue rose 26.15 per cent on an annual basis to Rs 5,649.65 crore in Q4FY23.
Oil India also declared a final dividend for FY23. Oil India's board of directors announced a final dividend of Rs 5.50 per share having a face value of Rs 10 each for FY23. In percentage terms, the dividend is 55 per cent.
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The final dividend is in addition to Rs 14.50 per equity share dividend paid earlier in the financial year.
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