PSU stock to be in focus: Shares of state-owned Oil India Ltd (OIL) will be in focus when markets open on Monday as the company has announced its quarterly results for the quarter ending December 31, 2024 along with an interim dividend. The company has reported a 23 per cent drop in its third-quarter net profit as the price of crude oil produced and sold fell.
Oil India dividend: Amount
The board of the PSU has recommended an interim dividend of Rs 7 per share for the financial year of 2024-25. With this, the total interim dividend declared by the company till Q3, FY25 is Rs 10 per share.
Oil India dividend: Record date
The company has informed exchanges that it has fixed February 17, 2025 as the record date to ascertain the eligibility of shareholders for this corporate action.
“Monday, 17th February,2025 as the Record date for ascertaining the eligibility of shareholders for payment of Second lnterim Dividend 2024-25,” the filing reads.
Oil India dividend: Payment date
The company said that the second interim dividend will be paid to eligible shareholders on or before 8th March, 2025.
Oil India dividend: Dividend history
Earlier, the company had announced an interim dividend of Rs 3 for which the ex-date was November 14, 2024. The state-owned company had announced a final dividend of Rs 2.50 for which the ex-date was August 30, 2024.
Oil India Net Profit
According to the company, its net profit was Rs 1,221.80 crore in October-December 2024 compared to Rs 1,584.28 crore a year back.
The company’s oil and gas production was almost unchanged at 0.868 million tonnes and 0.829 billion cubic meters respectively in October-December 2024. For the first nine months of the current fiscal, net profit rose 28 per cent to Rs 4,522.71 crore.
“For NINE months ending December 31, 2024, the company registered a cumulative hike of 4.10 per cent in its crude production which increased to 2.614 million tonnes from 2.511 million tonnes produced in the corresponding period of FY24,” the statement said.
