CHENNAI: Higher crude oil prices helped public sector oil and gas exploration major Oil and Natural Gas Corporation (ONGC) record a net profit of Rs 6,734 crore in the quarter ended March 31, 2021 (Q4 FY21), a turnaround from a net loss of Rs 3,214.41 crore in the corresponding quarter of the previous year. However, the company’s gains from higher oil prices were partially offset by record low gas rates during the period. Its gross revenue during the quarter also declined 1.2 per cent to Rs 21,189 crore compared to the previous year.
