The net profit of Oil and Natural Gas Corporation (ONGC) fell over 34 per cent in June quarter on decline in oil prices and lower output, the firm said.
Net profit of Rs 10,015 crore in April-June (first quarter of current 2023-24 fiscal year) compared to Rs 15,206 crore earning in the same period last year, the company said in a statement.
ONGC, India’s top crude oil and natural gas producer, earned $ 76.49 for every barrel of crude oil it produced and sold from nomination fields against a net realisation of $ 108.55 per barrel last year.
