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ONGC Second-quarter Profit Rises by 61 Per Cent, Beats Estimate

ONGC's net profit stood at 82.65 billion rupees ($1.14 billion) in the quarter ended Sept. 30, compared with 51.3 billion rupees a year earlier, the company said in a stock exchange filing.

Reuters

Updated:November 3, 2018, 9:30 PM IST
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ONGC Second-quarter Profit Rises by 61 Per Cent, Beats Estimate
The logo of Oil and Natural Gas Corp's (ONGC) is pictured along a roadside in Ahmedabad. (Image: Reuters)
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New Delhi: Oil and Natural Gas Corp Ltd posted a 61 per cent jump in second-quarter profit on Saturday, with higher crude oil prices helping it to beat forecasts.

ONGC's net profit stood at 82.65 billion rupees ($1.14 billion) in the quarter ended Sept. 30, compared with 51.3 billion rupees a year earlier, the company said in a stock exchange filing.

Analysts on average had expected a profit of 68.61 billion rupees, according to Refinitiv data.

Income from operations rose by 47.5 per cent to 279.89 billion rupees, ONGC said.
| Edited by: Ahona Sengupta
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