OIL · Oil Gas & Consumable Fuels
Oil India Ltd. reported revenue of ₹8,120 cr for April to June 2024, +30.8% on the year and −11.2% on the quarter.
Operating profit (EBITDA) was ₹3,142 cr, a margin of 38.7%, +202 bps on the year and +304 bps on the quarter. Operating costs grew +26.6% against revenue growth of +30.8%, so more of each rupee of sales reached operating profit.
Net profit was ₹2,016 cr, +44.1% on the year and −13.6% on the quarter, with earnings per share of ₹11.59. Profit before other income, one-offs and tax grew faster, at +48.1%; other income, one-offs or tax held the headline back. The tax rate was 25% against an average of 19% over the previous 4 quarters, which weighed on profit this quarter.
Refining and marketing profits swing with crude and product margins, and inventory gains or losses can move a single quarter sharply. The quarterly statements do not carry refining margins, throughput and inventory gains or losses; those come with the filing read.
On earnings per share of ₹41.77 over the last four quarters, the stock at ₹441.50 trades at 10.6 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹7,497 cr | ₹9,614 cr | ₹9,147 cr | ₹8,120 cr | ₹7,247 cr | ₹8,337 cr | ₹8,808 cr | ₹7,929 cr | ₹8,394 cr | ₹8,330 cr | ₹9,293 cr | ₹12,503 cr |
| YoY | — | — | — | +31% | −3% | −13% | −4% | −2% | +16% | −0% | +6% | +58% |
| EBITDA margin | 46.3% | 35.8% | 35.7% | 38.7% | 35.0% | 30.5% | 29.4% | 29.7% | 27.4% | 27.5% | 35.3% | 46.3% |
| Other income, % of PBT | −280% | 19% | 19% | 13% | 37% | 16% | 17% | 39% | 35% | 34% | 29% | 10% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 10% | 20% | 23% | 25% | 21% | 24% | 32% | 18% | 20% | 25% | 22% | 24% |
| Net profit | ₹640 cr | ₹2,608 cr | ₹2,333 cr | ₹2,016 cr | ₹2,069 cr | ₹1,457 cr | ₹1,497 cr | ₹2,047 cr | ₹1,644 cr | ₹1,436 cr | ₹2,424 cr | ₹4,027 cr |
| YoY | — | — | — | +44% | +223% | −44% | −36% | +2% | −21% | −1% | +62% | +97% |
| Core profit YoY | — | — | — | +48% | −39% | −39% | −26% | −35% | −20% | −22% | +21% | +214% |
| EPS | ₹2.59 | ₹14.43 | ₹13.16 | ₹11.59 | ₹12.40 | ₹8.23 | ₹8.05 | ₹11.66 | ₹8.78 | ₹7.35 | ₹12.91 | ₹22.32 |
| Flags | · | · | · | ✓ | 3 | 1 | 1 | 3 | 1 | 2 | 1 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Oil India Ltd. reported revenue of ₹8,120 cr (+30.8% on the year) and net profit of ₹2,016 cr (+44.1% on the year) for April to June 2024.
Profit before other income, exceptional items and tax moved +48.1% on the year, against +44.1% for reported profit.
None of the 7 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.