November 12, 2018 / 12:14 PM / 2 months ago

Oil India second-quarter profit rises over 33 percent, but misses estimates

(Reuters) - 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 Sept. 30, compared with 6.46 billion rupees a year earlier, the oil and gas explorer said. reut.rs/2Qz5CAk

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)

Reporting By Arnab Paul in Bengaluru; Editing by Subhranshu Sahu

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