ONGC Q2 profit slumps 24% YoY Rs 6,263 crore; misses Street estimates
Oil and Natural Gas Corporation on Thursday posted a 24.21 per cent year-on-year fall in standalone profit at Rs 6,263.13 crore for the quarter ended September 30. The state-run oil explorer had posted a profit of Rs 8,264.61 crore in the same period last year.
Analysts in an ETNow poll had posted a net of Rs 6,840 crore.
Total income of the company fell 10.55 per cent to Rs 27,177.95 crore during the quarter under review.
Expenditure increased to Rs 18,139.65 crore in the September quarter from Rs 17,678.36 crore a year ago.
Revenue from offshore and onshore operations declined 15.78 per cent and 5.51 per cent to Rs 16,013.85 crore and Rs 8478.77 crore, respectively, during the quarter under review.
