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Oil India Q2 profit rises 11 pct, beats expectations
November 10, 2017 / 11:58 AM / 9 days ago

Oil India Q2 profit rises 11 pct, beats expectations

Nov 10 (Reuters) - State-run Oil India Ltd posted an 11 percent rise in second-quarter profit on Friday, beating analysts’ expectations, helped by improved margins in its crude oil segment.

Profit for the quarter ended Sept. 30 came in at 6.46 billion rupees ($99.14 million), compared with 5.80 billion rupees a year earlier, the oil and gas explorer said. bit.ly/2jfQDzu

Analysts on average expected a profit of 5.07 billion rupees, according to Thomson Reuters Eikon data.

Revenue from operations rose 6 percent to 24.74 billion rupees, the company said. ($1 = 65.1600 Indian rupees) (Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu)

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