Oil India Ltd has reported a ₹705.22-crore net profit for the third quarter of the financial year 2017-2018. This is 55.1 per cent higher than the ₹454.69-crore bottom line reported in the corresponding period of the last financial year.
An Oil India statement said that the company’s board has recommended the ‘Issue of Bonus Shares' in the ratio of 1:2, that is, one bonus equity share of ₹10 each for every two existing fully paid-up equity share of ₹10 each, subject to approval of the shareholders.
The board also declared an interim dividend of ₹14 per share (or 140 per cent) for the year 2017-2018.
A company statement said that crude oil production registered a growth of 3.49 per cent in the third quarter of financial year 2017-2018 to 0.860 million tonne (mt) against 0.831 mt during the same period of the last financial year.