Shares of Oil India Ltd fell 1.08% to close at ₹211.55 on BSE on Monday. Photo: Bloomberg
Oil India Ltd reported a 56% rise in first-quarter profit on Monday, helped by higher revenue from the crude oil segment, but missed analysts’ estimates.
Profit rose to ₹703 crore ($100.41 million) in the three months ended 30 June, from ₹450 crore a year earlier, the oil and gas explorer said
Analysts on an average had expected a profit of ₹851 crore, according to Thomson Reuters I/B/E/S estimates.
Revenue from operations rose about 45% to ₹3,390 crore, while revenue from the crude oil segment gained about 53%.
Shares of Oil India Ltd fell 1.08% to close at ₹211.55 on BSE on Monday.