While announcing the results for the third quarter of the current fiscal (Q3 FY23), Oil India Ltd has declared a second interim dividend of ₹10 per share (face value of ₹10). This is in addition to the first interim dividend of ₹4.50 per share declared earlier. The total interim dividend paid during the year is ₹14.50 per share.
“The board of directors in its meeting held today i.e. on 10th February, 2023 has inter-alia declared Second lnterim Dividend of ₹10/- per share (100% of paid-up capital) for the financial year 2022 23. The lnterim dividend declared shall be paid on or before 12’h March, 2023. decided Wednesday, 22″d February, 2023 as the record date for ascertaining the eligibility of shareholders for payment of Second lnterim Dividend 2022-23,” said the company informed in an exchange filing.
State-owned Oil India reported its highest ever quarterly net profit in the third quarter ended December 2022 at ₹1,746 crore as compared to ₹1,245 crore in the year-ago period. The profit was hit by a windfall tax India imposed on oil producers in July. Crude oil production increased over 7% while natural gas output rose more than a per cent, fuelling a more than 57% jump in revenue from operations to ₹5,879 crore.
The company said it posted its highest ever profit in a quarter due to better pricing and higher output of crude oil and natural gas. The company said it posted its highest ever profit in a quarter due to better pricing and higher output of crude oil and natural gas.