Oil India stock climbs 6% as Q2 net profit zooms 464% YoY
Wed, Nov 6, 2024 12:10 PM

Oil India stock climbs 6% as Q2 net profit zooms 464% YoY

A Flip by Shubhangi Gupta
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Shares of Oil India surged around 6% on November 6, following a robust earnings report. The state-owned firm reported a substantial net profit increase to Rs 2,069 crore, up from Rs 640 crore in the same quarter last year. However, revenue for the quarter fell 8% Y/Y. Analysts at Motilal Oswal and Kotak Institutional Equities had anticipated a net profit range of Rs 1,667.7 crore to Rs 2,123.2 cr.

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