ONGC net profit falls 50% to ₹4,152 crore in Q3

ONGC has reported a ₹4,151.63 crore standalone net profit for the third quarter of financial year 2019-2020. This is 49.75 per cent lower than the ₹8,262.7 crore profit reported in the comparable quarter of the previous financial year.

Standalone total income during the period under review also declined to ₹25,112.55 crore. This is 15.98 per cent lower than the ₹29,888.21 crore total income reported in the quarter ended December 2018.

Shares of the company closed 1.99 per cent lower at ₹ 103.25 scrip during trade on Friday at the BSE.

On a consolidated basis, total income was down 7.30 per cent to ₹1,11,187.83 crore, down from ₹1,19,943.92 crore reported for the quarter ended December 2018. Consolidated net profit was reported at ₹5,383.8 crore, down 43.69 per cent from ₹9,561.73 crore reported in the comparable quarter of the previous fiscal.