Oil India gains on reporting 40% rise in Q1 net profit

 

     Oil India, a Navratna Company, is Asia's oldest biggest pioneer oil exploration and production Company. Oil India has over 1 lakh sq km of PEL/ML areas for its exploration and production activities, most of it in the Indian North East, which accounts for its entire crude oil production and majority of gas production.
     Oil India's net profit for the quarter ended june 30,2014 has surged 39.86% at Rs 851.87 crore as compared to Rs 609.08 crore for the quarter ended June 30,2013. Its total income has increased y 19.90% to Rs 2937.01 crore for the quarter under review from Rs 2449.43 crore for the corresponding quarter of the previous year.
     The promoters holding in the company stood at 67.64% while Institutions and Non-Institutions held 17.58% and 14.77% respectively.
     BSE 'A' group of share face value Rs 10 has a touched 52 week high of  Rs 632.80 on 22-May-2014 and 52 week low of Rs 415.00 on 29-Aug-2013.
     current price of share is 572.15 up by 3.65 points from its previous closing of Rs 567.50 on the BSE.