Oil India has appointed Abhijit Majumder as its Chief Financial Officer (CFO), effective December 18, 2024. Majumder, who previously served as Director (Finance), will succeed Rupam Barua, Executive Director (Finance & Accounts). The announcement was made in a regulatory filing following a meeting of the company's Board of Directors.

Abhijit Majumder is a distinguished finance professional with over 32 years of experience in various domains, including Financial Management, Corporate Governance, Risk Management, and Project Management. He is a member of the Institute of Cost & Management Accountants of India and holds a Bachelor's degree in Economics and Law, along with a postgraduate diploma in Forex Management from ICFAI. Additionally, he is an alumnus of the IICA Valuation Certificate Program.

In related news, Oil India recently reported its fiscal second-quarter earnings, revealing a 25% increase in profit to Rs 1,834 crore, up from Rs 1,466.8 crore in the previous quarter. 

However, revenue from operations fell by 1.6%, totaling Rs 5,246.2 crore compared to Rs 5,332 crore in the prior quarter. EBITDA also saw a decline of 11.5%, dropping to Rs 2,183.2 crore from Rs 2,466 crore quarter-on-quarter, with margins contracting to 41.6%. The company continues to navigate a challenging market landscape while focusing on strategic leadership changes to enhance its financial management.