Windfall taxes have dragged down the net profit of state-owned ONGC by 30 per cent in the September quarter to Rs 12,825.99 crore compared with Rs 18,347.73 crore a year ago.
The profit of the exploration firm fell 15.6 per cent over the preceding June quarter when it had reported Rs 15,205.85 crore net profit.
The net profit fell despite ONGC earning $95.49 per barrel from crude oil against $69.36 a barrel a year back.
ONGC sells crude oil at international benchmark rates which soared following the Russian invasion of Ukraine.
