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Oil India Q2 profit rises 11% to Rs6.46 billion, beats estimates

1 min read . Updated: 10 Nov 2017, 08:55 PM IST Krishna V Kurup

Analysts on average expected a profit of Rs5.07 billion to Oil India, according to Thomson Reuters Eikon data. Photo: Bloomberg

Revenue from Oil India operations rose 6% to Rs24.74 billion during the September quarter

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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