(Reuters) - State-run Oil India Ltd on Friday posted a 55 percent rise in third-quarter net profit, beating analysts’ estimates.
Profit rose to 7.05 billion rupees ($109.49 million) from 4.55 billion rupees a year earlier, Oil India said. bit.ly/2EwQhh2
Analysts on average had expected a profit of 6.88 billion rupees, according to Thomson Reuters data.
Revenue from operations rose over 16 percent to 28.53 billion rupees.
($1 = 64.3900 Indian rupees)
Reporting by Tanvi Mehta in Bengaluru; Editing by Vyas Mohan