OIL Q3 profit rises 75%, beats estimate1 min read . Updated: 12 Feb 2019, 05:09 PM IST
- Profit came in at ₹1,233 crore during the October-December quarter against ₹705 crore a year ago
- Revenue from operations climbed 23.2% to ₹3,514 crore
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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