Oil India: In Q4FY24, Oil India reported a 10% sequential decline in consolidated net profit to ₹2332.94 crore, but a 17% YoY increase. The company’s revenue from operations rose by around 16% YoY to ₹10,166 crore. OIL’s board recommended a 1:2 bonus share issue and a final dividend of ₹2.50 per equity share (post-bonus) for FY24, in addition to the interim dividends already paid.
The company’s EBITDA for Q4 rose to ₹3838 crore, with an 18% YoY increase in crude oil EBIT to ₹1,744.75 crore. OIL achieved its highest ever EBIDTA of ₹11,643.30 crore for FY24, driven by record oil and gas production of 6.54 MMTOE. Crude oil production increased by 5.76% to 3.359 MMT in FY24, and natural gas production also grew.
The company drilled a record 61 wells during the year. Bharat Electronics: BEL reported a jump of 30% in its Q4 consolidated net profit at ₹1,797 crore. Revenue from operations increased 32% to ₹8,564 crore, from ₹6,479 crore in the same quarter last fiscal.
Steel Authority of India: SAIL reported a nearly 3% fall in Q4 net profit due to softer steel prices and higher costs. The consolidated net profit declined to ₹1,126 crore from ₹1,159 crore a year earlier. Rail Vikas Nigam: RVNL reported a 33.2% YoY jump in Q4 net profit at ₹478.6 crore.
The company’s revenue from operations increased 17.4% to ₹6,714 crore, compared to ₹5,719.8 crore in the corresponding period of the preceding fiscal. Separately, the state-run railway company received a Letter of Acceptance for a ₹148.3 crore project from SER HQELECTRICAL/South Eastern Railway. The project involves the upgradation of the electric traction system in the Kharagpur division of South Eastern Railway.
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