Oil India second-quarter profit rises over 33 percent\, but misses estimates

Oil India second-quarter profit rises over 33 percent, but misses estimates

Reuters 

(Reuters) - State-controlled India Ltd posted a 33.4 percent rise in its second-quarter profit on Monday, helped by strong gains from its crude segment, but missed analysts' estimates.

Profit was 8.62 billion rupees ($118.26 million) for the three months ended Sept. 30, compared with 6.46 billion rupees a year earlier, the and gas explorer said. https://reut.rs/2Qz5CAk

Analysts on an average had expected a profit of 8.80 billion rupees, according to IBES data from

Revenue from operations climbed 51.3 percent to 37.44 billion rupees, while revenue from the crude oil segment gained over 57 percent.

($1 = 72.8900 Indian rupees)

(Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 12 2018. 17:41 IST