ONGC standalone net profit falls 24.22 per cent to Rs 6,263.13 crore
Oil and Natural Gas Corporation (ONGC) Limited has reported a ₹ 6,263.13 crore standalone net profit for the second quarter of financial year 2019-2020. This is 24.22 per cent lower than the ₹ 8,264.61 crore profit reported by the company in the same quarter of the preceding financial year.
Standalone total income too reported a decline during the quarter under review. It stood at ₹ 27,177.95 crore, 10.55 per cent down from the ₹ 30,383.4 crore standalone total income reported by the company in the quarter ending September 30, 2018.
The fall in total income and net profit can be attributed to a fall in crude oil prices. Per barrel realisation from nominated fields fell 17.4 per cent from $ 73.07 a barrel in the same quarter of last year to $ 60.33 a barrel in the quarter under review.
