Oil India on Wednesday announced the appointment of Abhijit Majumder, Director (Finance) as the Chief Financial Officer of the company, with effect from December 18. He will replace Rupam Barua, ED (F&A).
In a regulatory filing, it said, “We would like to inform that the Board of Directors of the Company at its meeting held today, has inter-alia accorded its approval for appointment of Shri Abhijit Majumder, Director (Finance) as Chief Financial Officer (CFO) of the Company w.e.f. 18.12.2024.”
Abhijit Majumder is a member of the Institute of Cost & Management Accountants of India and holds a Bachelor’s degree in Economics, Law, a post graduate diploma degree in Forex Management, ICFAI and is an alumni of llCA Valuation Certificate Program. “He is an eminent senior finance professional with an illustrious career spanning over 32 years. His expertise encompasses Financial Management, Corporate Governance & Compliances, Risk Management, Project Management, Corporate Business Development etc.,” the company said.
Earlier in November, Oil India had released its fiscal second quarter earnings with a 25 per cent rise in profit at Rs 1,834 crore in comparison to Rs 1,466.8 crore posted during the previous quarter. Revenue from operations came in at Rs 5,246.2 crore, down 1.6 per cent from the Rs 5,332 crore reported last quarter. EBITDA during the quarter in review declined by 11.5 per cent to Rs 2,183.2 crore from Rs 2,466 crore quarter-on-quarter, with margins shrinking to 41.6 per cent.