Profit came in at 12.33 billion rupees ($174.24 million) for the three months ended Dec. 31, compared with a profit of 7.05 billion rupees a year earlier, the oil and gas explorer said Analysts on an average had expected a profit of 8.31 billion rupees, according to I/B/E/S data from Refinitiv.

Revenue from operations climbed 23.2 percent to 35.14 billion rupees, while revenue from the crude oil segment gained 21.6 percent.