Oil India Q2 profit rises 11% to Rs6.46 billion, beats estimates
Bengaluru: State-run Oil India Ltd posted an 11% rise in second-quarter profit on Friday, beating analysts’ expectations, helped by improved margins in its crude oil segment.
Profit for the quarter ended 30 September came in at Rs6.46 billion ($99.14 million), compared with Rs5.80 billion a year earlier, the oil and gas explorer said.
Analysts on average expected a profit of Rs5.07 billion, according to Thomson Reuters Eikon data.
Revenue from operations rose 6% to Rs24.74 billion, the company said. Reuters
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