ONGC reports flat profit
ONGC net increased from Rs 4,138 crore last year to Rs 4,173 crore this fiscal
By PTI |
NEW DELHI: Oil and Natural Gas Corp (ONGC) on Thursday reported an almost flat net profit at Rs 4,173.98 crore in the second quarter ended September 30, mainly due to a 78 per cent jump in its subsidy payout.
ONGC net increased from Rs 4,138.25 crore in Q2 2005-06 to Rs 4,173.98 crore this fiscal, a company press release said here.
It shelled out Rs 5,032 crore by way of discounts to refiners to compensate them for revenue loss on LPG and kerosene in July-September quarter. The subsidy payout was a massive 78 per cent jump over the payout in the same period the last fiscal.
The company revenues stood at Rs 15,008.26 crore in July-September quarter as against revenue of Rs 13,543.31 crore in the corresponding period the previous year.
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