OIL INDIA LTD reported a net profit of 22.59 billion rupees ($241.24M) for the quarter ended September 30, more than doubling from 10.44 billion rupees a year earlier. The state-owned energy producer capitalized on higher crude prices during the period. Earnings expansion follows a 48% surge in revenue to 80.71 billion rupees.
Oil India Profit Doubles on Higher Crude Prices
Oil India reported that its second-quarter standalone profit more than doubled to 22.59 billion rupees. The strong growth was driven by higher crude oil realisations and increased global prices during the quarter.
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