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

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

Revenue from operations climbed 51.3 per cent to Rs 37.44 billion, while revenue from the crude oil segment gained over 57 per centREUTERS  |  November 12, 2018, 18:28 IST
Oil India second-quarter profit rises over 33 per cent, but misses estimates New Delhi: State-controlled Oil India posted a 33.4 per cent rise in its second-quarter profit on Monday, helped by strong gains from its crude oil segment, but missed analysts' estimates.

Profit was Rs 8.62 billion ($118.26 million) for the three months ended September 30, compared with Rs 6.46 billion a year earlier, the oil and gas explorer said.

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

Revenue from operations climbed 51.3 per cent to Rs 37.44 billion, while revenue from the crude oil segment gained over 57 per cent.