Bengaluru: Oil India Ltd (OIL) on Tuesday posted nearly 75% surge in its quarterly profit, handily beating analysts' estimates, boosted by gains from its crude oil segment.

Net profit came in at 1,233 crore ($174.24 million) for the three months ended 31 December, compared with a profit of 705 crore a year earlier, the oil and gas explorer said.

Analysts on an average had expected a profit of 831 crore, according to I/B/E/S data from Refinitiv.

Revenue from operations climbed 23.2% to 3,514 crore, while revenue from the crude oil segment gained 21.6%.

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