Comments
Public sector undertaking Oil and Natural Gas Corporation Ltd (ONGC) has reported higher net profit of 58.1 per cent at ₹6,144 crore for the quarter ended June 30. The company’s standalone net profit for the same quarter previous year was ₹3,885 crore.
ONGC’s revenue for the quarter under review was ₹27, 213 crore, up 42.7 per cent from ₹19, 073 crore last financial year.
For crude oil produced from nominated fields, ONGC’s net realisation price stood at $71.48 a barrel during the first quarter of the financial year 2018-2019. This was 47.6 per cent higher from $48.42 a barrel price realised during the same quarter of 2017-18.
Crude oil
Price realisation of crude oil from joint venture projects was up 48 per cent (compared to the quarter ending June 2017 at $45.92) at $67.97 a barrel during the quarter ended June 2018.
Compared to the April-June 2017 quarter, price realisation from natural gas production too, was higher by 23.4 per cent during April-June 2018 at $3.06 per million British thermal units (mBtu).
In terms of production, crude oil dropped 5.3 per cent at 5.028 million tonne (MT) in the first quarter of 2018-19 as opposed to 5.310 MT during April-June 2017.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.