ONGC Q3 results: Net profit shrinks 7.9% to Rs 10,748 cr as production dips
Oil and Natural Gas Corporation (ONGC) posted a 7.9 per cent decline in its consolidated net profit to Rs 10,748 crore in the third quarter (October-December) of FY24, from Rs 11,665 crore in the corresponding quarter of the preceding financial year.
The state-run oil and gas exploration giant’s total crude production dropped 3.3 per cent to 5.21 million metric tonnes (MMT), down from 5.39 MMT in Q3FY23.
ONGC’s natural gas production declined 4.3 per cent to 5.12 billion cubic meters (BCM) in the latest quarter, down from 5.35 BCM in the corresponding period of the preceding year.
