State-owned Oil and Natural Gas Corporation (ONGC) on Saturday reported nearly seven-fold jump in third quarter net profit after higher oil and gas prices offset a drop in production.
Net profit of Rs 8,764 crore in October-December 2021 rose 596.7 per cent over Rs 1,258 crore net profit in the same period a year back, the company said in a statement.
The nation’s top oil and gas producer got $75.73 for every barrel of crude oil it produced and sold in the third quarter of the current fiscal year as compared to $43.20 a barrel realisation in the same period of 2020-21.
