Rising oil & gas prices may boost ONGC profitability
On the back of rising global crude oil and natural gas prices, analysts in international agencies expect state-run Oil and Natural Gas Corporation (ONGC) to improve its performance in the ongoing and the succeeding fiscals.
The company’s net profit fell 16.5% to Rs 11,246 crore year-on-year on lower production and a sharper fall in its realisations on oil and gas sales.
