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Oil India Q1 Results: Net profit down 10% at ₹1,613 crore, revenue plunges 16% QoQ
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₹1,613.4 crore against ₹1,788.3 crore reported in March quarter of FY23. Apart from this, the revenue also declined 16 percent at ₹4,531.2 crore in Q1FY24 in comparison to ₹5,394.4 crore reported in Q4FY23, the firm said in a stock regulatory filing.
Among other details, the firm's earnings before interest, taxes, depreciation, and amortization (EBITDA) was reported down by 0.8 percent at ₹2,329.1 crore in Q1FY24 compared to ₹2,347.9 crore in the March quarter of FY23. Its margin stood at 51.4 percent in June quarter against 43.5 percent in Q4FY23.
After declaring the Q1FY24 results, Oil India Limited's shares closed 0.42 per up at ₹273.60 apiece on the BSE. This is a developing story, it will be updated shortly.
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