INSUBCONTINENT EXCLUSIVE:
Oil and gas major ONGC on Thursday posted 58.15 per cent year-on-year rise in net profit at Rs 6,143.88 crore for quarter ended June 30
It had posted a net profit of Rs 3,884.73 crore in the corresponding quarter last year
Analysts in an ETNow poll had predicted a profit of Rs 6,697 crore for the quarter under review.
Revenue from operations increased to Rs
27,212.83 crore in Q1FY19 over Rs 19,073.54 crore in Q1FY18
ETNow poll had predicted a revenue of Rs 26,946 crore.
EBITDA jumped 58.32 per cent YoY to Rs 13,893 crore for the quarter under review
against Rs 8,775 crore in the same period last year.
PTI addsONGC realised USD 71.48 for every barrel of crude oil it produced in the
April-June quarter of the current fiscal, up 47.6 per cent over USD 48.42 a barrel in the year-ago period.
For natural gas, it got USD 3.06
per million British thermal unit as compared to USD 2.48 per mmBtu.
ONGC said its crude oil production dropped 5.3 per cent to 5 million
This was partly made up by a 2.5 per cent rise in output from joint venture fields, that pumped 0.8 million tonnes oil.
