ONGC reports ₹6,734 crore net profit in Q4
The Hindu
State-owned Oil and Natural Gas Corporation (ONGC) reported a net profit of ₹6,734 crore in the March quarter on the back of higher oil prices and exceptional income.ONGC had reported a net loss of ₹3
State-owned Oil and Natural Gas Corporation (ONGC) reported a net profit of ₹6,734 crore in the March quarter on the back of higher oil prices and exceptional income. ONGC had reported a net loss of ₹3,214.41 crore in the January-March 2020 period, the company said in a statement. In an investor call, Chairman and MD Subhash Kumar said the company realised $58.05 for every barrel of crude oil produced and sold in January-March as compared with $49.01 a barrel realisation a year ago. The firm had reversed impairment losses, recording an exceptional gain of ₹2,613 crore in the quarter.
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