Oil India announced that its board has approved appointment of Abhijit Majumder, director (finance) as chief financial officer (CFO) of the company with effect from 18 December 2024.
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 companys 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.
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