Oil India Q4 net rises over 5-fold to Rs431 crore

Navratna public sector undertaking Oil India Ltd has reported an over five-fold increase in its net profit for fiscal fourth quarter ended 31 March 2010, at Rs430.99 crore, against a net profit of Rs70.75 crore in the similar quarter of the previous year. 

OIL India's turnover for the quarter rose 34.02 per cent to Rs1,832.14 crore, against Rs1,367.10 in the similar quarter of the previous financial year, according to audited financial results of the company.

The board of directors of the company at its meeting held on 26 May 2010, inter alia, recommended final dividend of Rs16 per share (160 per cent) for the financial year 2009-10, subject to approval of the shareholders at the ensuing annual general meeting.

Earnings per share of the company for the January-March 2010 quarter works out to 441.39 per cent at Rs17.92 against Rs3.31 in the similar quarter of the previous year.

Net profit for the 12 months ended 31 March 2010 of Oil India was up 20.76 per cent at Rs2,610 crore against Rs2,161.68 crore in the previous financial year (2008-09), Oil India said in a release.

Turnover for the financial year was up 9.17 per cent at Rs7,905.55 crore against Rs7,241.45 crore in the previous financial year.