ONGC net profit rises by 15.2 pc in third quarter

ONGC net profit rises by 15.2 pc in third quarter
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New Delhi: The Oil and Natural Gas Corporation (ONGC) Limited on Friday declared their third quarter result and posted net profit of Rs. 5,015 crore, which is 15.2 percent more than the last third quarter.

In its 303rd Board Meeting held on Friday, the ONGC presented the quarterly results for the third quarter ended December 31, 2017.

Gross revenue increased 14.9 percent to Rs 22,996 crore, which was Rs 20,014 crore in the third quarter of financial year 2017.

Standalone production registered upswing in the nine month period: natural gas up 7.7 percent; crude oil up by 1.2 percent and value added product (VAP) up 4.9 percent in financial year 2018 against same period in financial year 2017.

The country’s largest oil explorer company has also notified 10 discoveries so far in the financial year 2018. (ANI)