Oil India Q2 profit rises over 33 pc, but misses estimates

By: |
New Delhi | Updated: November 12, 2018 6:50:14 PM

State-controlled Oil India Ltd posted a 33.4 percent rise in its second-quarter profit on Monday, helped by strong gains from its crude oil segment, but missed analysts' estimates.

Profit was 8.62 billion rupees (8.26 million) for the three months ended September 30, compared with 6.46 billion rupees a year earlier, the oil and gas explorer said.

State-controlled Oil India Ltd posted a 33.4 percent rise in its second-quarter profit on Monday, helped by strong gains from its crude oil segment, but missed analysts’ estimates.

Profit was 8.62 billion rupees ($118.26 million) for the three months ended September 30, compared with 6.46 billion rupees a year earlier, the oil and gas explorer said.

Analysts on an average had expected a profit of 8.80 billion rupees, according to IBES data from Refinitiv.

Revenue from operations climbed 51.3 percent to 37.44 billion rupees, while revenue from the crude oil segment gained over 57 percent. ($1 = 72.8900 Indian rupees)

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Make In Odisha: Mukesh Ambani’s rural punch! Reliance Jio has connected 43,000 villages in the state
2India a bright spot in slowing global Internet growth; here’s how it made Internet affordable
3DGCA suspends flying licence of Air India Operations Director Arvind Kathpalia for 3 years