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.

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