Oil India net profit rises over 33pct in Q2 2018

Image Source: ET EnergyWorld

State-controlled Oil India posted a 33.4 per cent rise in its Q2 profit, helped by strong gains from its crude oil segment, but missed analysts' estimates. Profit was INR 8.62 billion for the three months ended September 30, compared with INR 6.46 billion a year earlier. Analysts on an average had expected a profit of INR 8.80 billion, according to IBES data from Refinitiv.

Meanwhile, revenue from operations climbed 51.3 per cent to INR 37.44 billion, while revenue from the crude oil segment gained over 57 per cent.

Source : Strategic Research Institute, SteelGuru