OINL's revenue of INR28.5b (+20% YoY, +15% QoQ) was ahead of our estimate of INR27.2b, led by higher-than-expected sales. Reported EBITDA of INR12.2b (+84% YoY, +21% QoQ) was significantly above our estimate of INR10.5b, led by lower other expenditure at USD5.9/boe v/s USD8.8/boe in 3QFY17 and USD4.6/boe in 2QFY18. PAT came in at INR7.1b (in-line; +55% YoY, +9% QoQ) ??? the difference at the PAT level declined due to lower other income of INR2.1b (est. of INR4.5b; -34% YoY, -36% QoQ). Realization at USD559.4/bbl: In 3QFY18, gross realization stood at USD59.4/bbl (+21% YoY, +19% QoQ), led by rising crude oil prices. Production of crude oil stood at 0.86mmt (+3% YoY, +1% QoQ) and of gas at 0.73bcm (-1% YoY, -4% QoQ). Total production grew 1% YoY (-2% QoQ) to 1.59mmtoe. Sales of oil stood at 0.83mmt (+1% YoY, -1% QoQ) and of gas at 0.6bcm (flat YoY, -5% QoQ). Total sales grew 1% YoY (-3% QoQ) to 1.44mmtoe