May 6, 2010 / 10:25 AM / 8 years ago

Petrominerales Q1 profit jumps ten-fold

* Q1 EPS $0.71 vs $0.07 yr ago

* Revenue more than triples

* Crude oil production up 75 pct

May 6 (Reuters) - Petrominerales Ltd PMG.TO posted a 10-fold increase in quarterly profit, aided by a surge in oil production.

For the first quarter, the oil explorer earned $73.4 million, or 71 cents a share, compared with $7.4 million, or 7 cents a share, a year earlier.

Crude oil revenue more than tripled to $247.8 million, helped by a 75 percent rise in production.

Funds flow from operations increased to $140.1 million, or $1.34 a share, from $41.8 million, or 42 cents a share, a year ago.

Analysts on average were expecting the company to earn 77 cents a share, on revenue of $225 million, according to Thomson Reuters I/B/E/S.

Shares of the Bogota, Colombia-based company closed at C$31.40 Wednesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Vinu Pilakkott)

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