State-owned Oil and Natural Gas Corporation (ONGC) Thursday reported a 65 per cent jump in its third quarter net profit as higher prices made up for a fall in oil output.
Net profit in October-December 2018 at Rs 8,262.70 crore, or Rs 6.44 per share, was higher than Rs 5,014.67 crore, or Rs 3.91 a share, net earning in the same period of the previous fiscal, the company said in a statement.
The company got USD 66.38 for every barrel of crude oil it sold in the quarter, 13.6 per cent higher than USD 58.42 per barrel realisation a year ago. Gas prices were 163 per cent higher at USD 3.36 per million British thermal unit.
