BENGALURU (Reuters) - State-run explorer Oil India reported a higher-than-expected profit for the fourth quarter on Monday, helped by higher crude oil prices and strong demand.

Its profit rose 13.5% to 20.29 billion rupees ($243.7 million) from a year earlier, beating analyst expectations of a 9% fall in profit to 16.20 billion rupees, according to LSEG data.

Global crude oil prices rose nearly 14% during the March quarter, benefiting oil explorers.

Revenue from Oil India's crude oil segment, which accounts for more than 70% of the explorer's total revenue, rose 13.8% in the quarter. The natural gas segment fell 17.4%.

Oil India's overall revenue from operations rose 2% to 57.57 billion rupees, beating estimates of 56.18 billion rupees.

Total expenses rose 8.8% to 40.65 billion rupees.

The board also recommended an issue of bonus shares in a 1:2 ratio.

Peer Oil And Natural Gas Corporation Ltd is expected to report results later on Monday.

Oil India's shares closed 1.2% higher on Friday at 647 rupees, gaining about 74% so far in 2024.

($1 = 83.2600 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Devika Syamnath)