February 9, 2018 / 1:23 PM / 16 days ago

Oil India third-quarter profit rises, beats estimates

(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

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