State-owned Oil India Ltd on Friday (February 7) reported a 22.88% year-on-year (YoY) decline in net profit at ₹1,221.80 crore for the third quarter against ₹1,584.28 crore in Q3 FY24.

The maharatna’s revenue fell 9.89% to ₹5,239.6 crore against ₹5,815.02 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA fell 11.18% to ₹2,321.34 crore in the third quarter of this fiscal over ₹2,613.75 crore a year ago. The EBITDA margin stood at 42.76% in the reporting quarter versus 41.34% in same quarter last year. EBITDA is earnings before interest, tax, depreciation, and amortisation.

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For the nine months (9M) ended December 31, 2024, Oil India Ltd recorded a 4.10% increase in crude oil production, reaching 2.614 million tonnes (MT) compared to 2.511 MT in the corresponding period of FY24.

The company’s cumulative natural gas production also rose by 2.90% to 2,446 MMSCM, up from 2,377 MMSCM in the same period of the previous fiscal. The group’s profit after tax (PAT) for 9M FY25 increased 19.26% to ₹5,542.66 crore, compared to ₹4,647.51 crore in the corresponding period of FY24.

The company’s board has recommended an interim dividend of ₹7 per fully paid equity share, bringing the total interim dividend declared till Q3 FY25 to ₹10 per share. Earnings per share (EPS) for the nine months ended December 31, 2024, increased to ₹27.80 per share from ₹21.66 per share in the corresponding period of FY24.

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The results came after the close of the market hours. Shares of Oil India Ltd ended at ₹424.75, up by ₹0.050, or 0.012%, on the BSE.