Abhijit Majumder will be replacing Rupam Barua, ED (F&A) for the position of CFO of the company.
Majumder is a member of the lnstitute of Cost & Management Accountants of lndia, holder of a Bachelor's degree in Economics, Law, a post graduate diploma in Forex Management, ICFAI and an alumni of llCA Valuation Certificate Program.
He is a senior finance professional with over 32 years of experience. His expertise encompasses financial management, corporate governance & compliances, risk management, project management, corporate business development etc.
Oil India is a state-owned Maharatna under the administrative control of India's Ministry of Petroleum and Natural Gas. As of 30 September 2024, the Government of India held 56.66% stake in the company.
The petroleum business company’s net profit zoomed 379.29% to Rs 2,016.20 crore in Q2 FY25 as against Rs 420.66 crore in Q2 FY24. Revenue from operations (excluding excise duty) fell 3.32% YoY to Rs 7,247.03 crore in the September 2024 quarter.
The scrip rose 0.08% to currently trade at Rs 444.70 on the BSE.