Oil India Q1 Results: Profit, Revenue Beat Estimates

Oil India Ltd. posted a 45% rise in the first quarter of this financial year. It has posted a consolidated profit of Rs 1,896 crore in quarter ended June.

This is in comparison to profit of Rs 1,310 crore in the preceding quarter of the previous fiscal year, according to its stock exchange notification on Tuesday.

Analysts tracked by Bloomberg expected the OMC to remain profitable, as they had a consensus estimate of Rs 1,419.30 crore.

• Revenue down 10% to Rs 7,928.66 crore versus Rs 8,808.34 crore (Estimate: Rs 5,276.00 crore).

• Net profit up 27% to Rs 1,896.42 crore versus Rs 1,496.97 crore (Estimate: Rs 1,419.30 crore).

• Ebitda down 18% to Rs 2,350.93 crore versus Rs 2,860.39 crore (Estimate: Rs 2,278.50 crore).

• Margin at 29.7% versus 32.5% (Estimate: 43.19%).

The quarterly earnings was shared after market hours. The stock settled 0.39% higher at Rs 425.10 apiece on the NSE, compared to a 0.46% decline in the benchmark Nifty 50.

Oil India's shares have fallen 36.29% in the last 12 months and 1.31% year-to-date.

Out of 21 analysts tracking the company, 17 maintain a 'buy' rating, two recommend a 'hold' and as many suggest 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 502.72 implies an upside of 18.3%.