NEW DELHI: State-owned Oil and Natural Gas Corporation (ONGC) reported a 20 per cent drop in September quarter next profit on decline in oil prices and lower output.
The company reported a net profit of Rs 10,216 crore in July-September (second quarter of current 2023-24 fiscal year), compared to Rs 12,826 crore earning in the same period last year, a statement said.
This is the second consecutive quarter of a decline in net profit for ONGC, India’s top crude oil and natural gas producer. The firm had reported a 34 per cent drop in April-June profit.
