Mumbai: State-run oil major Oil - Natural Gas Corp (ONGC) on Friday reported a 47.07 per cent decline in December quarter profit at Rs 4,151.63 crore.
Analysts in an ET NOW poll had estimated the number at Rs 5,410 crore.The revenue from operations dropped to Rs 23,710.05 crore, from 27,694.09 crore a year ago.Of this, revenue from offshore operations stood at Rs 15,764.66 crore, while onshore operations contributed Rs 7,945.39 crore.The margins came in at 44.6 per cent compared with 50.2 per cent a year ago.Ahead of the earnings announcement, ONGC shares closed nearly 2 per cent lower at Rs 103.25 on BSE, while 30-share Sensex closed 0.49 per cent lower at 41,257.74 points.
The stock had shed nearly 20 per cent year-to-date.