You are here: Home » Reuters » News
Business Standard

Oil India's third-quarter profit beats estimate


(Reuters) - State-owned India Ltd on Tuesday posted nearly 75 percent surge in its quarterly profit, handily beating analysts' estimates, boosted by gains from its crude segment.

Profit came in at 12.33 billion rupees ($174.24 million) for the three months ended Dec. 31, compared with a profit of 7.05 billion rupees a year earlier, the and gas explorer said.

Analysts on an average had expected a profit of 8.31 billion rupees, according to I/B/E/S data from Refinitiv.

Revenue from operations climbed 23.2 percent to 35.14 billion rupees, while revenue from the crude oil segment gained 21.6 percent.

(Reporting by in Bengaluru; Editing by Rashmi Aich)

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

First Published: Tue, February 12 2019. 22:58 IST