Oil India Q2 FY17 net profit drops 18% YoY

India Infoline News Service | Mumbai | November 28, 2016 15:01 IST

The company has posted a net profit of Rs 580 crore for the quarter ended September 30, 2016 as compared to Rs 706 crore for the quarter ended September 30, 2015.

Oil India Ltd has announced the following Unaudited Standalone results for the quarter ended September 30, 2016:

The company has posted a net profit of Rs 580 crore for the quarter ended September 30, 2016 as compared to Rs 706 crore for the quarter ended September 30, 2015. Total income has decreased from Rs 2,960.8 crore for the quarter ended September 30, 2015 to Rs 2,721 crore for the quarter ended September 30, 2016.

The board of directors of the company has recommended 'Issue of Bonus shares' in the ratio of 1:3 i.e. one bonus equity share of Rs 10 for every three existing fully paid up equity shares of Rs 10 each subject to approval of the shareholders.

Stock Commentary:

Oil India Ltd is currently trading at Rs 428.5, down by Rs 8.4 or 1.92% from its previous closing of Rs 436.9 on the BSE.

The scrip opened at Rs 437 and has touched a high and low of Rs 444.95 and Rs 426.05 respectively. So far 1521330 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 26263.63 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 446 on 24-Nov-2016 and a 52 week low of Rs 300.5 on 01-Mar-2016. Last one week high and low of the scrip stood at Rs 446 and Rs 414.05 respectively.

The promoters holding in the company stood at 67.64 % while Institutions and Non-Institutions held 17.05 % and 15.3 % respectively.

The stock is currently trading above its 50 DMA.

***Note: This is a NSE Chart

 

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