{"id":276808,"date":"2019-05-31T04:55:15","date_gmt":"2019-05-31T04:55:15","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=276808"},"modified":"2019-05-31T05:09:39","modified_gmt":"2019-05-31T05:09:39","slug":"ongc-reports-31-drop-in-q4-net-profit-on-drop-in-production-prices","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongc-reports-31-drop-in-q4-net-profit-on-drop-in-production-prices\/","title":{"rendered":"ONGC reports 31% drop in Q4 net profit on drop in production, prices"},"content":{"rendered":"<p>State-owned Oil and Natural Gas Corp (ONGC) Thursday reported a 31 per cent drop in its March quarter net profit as it faced a double whammy of a drop in production and fall in prices. <\/p>\n<p>Net profit in January-March at Rs 4,045 crore was 31.6 per cent lower than net profit of Rs 5,915 crore in the same period of the previous fiscal year, the company said in a statement. While oil production dropped 5 per cent to 4.8 million tonne, the price it realised for every barrel of crude oil sold was 3.6 per cent lower at $61.93. <\/p>\n<p>Gas production, however, rose 8.2 per cent to 6.275 billion cubic metres. Also, gas price climbed 16.3 per cent to $3.36 per million British thermal unit. Revenue was up 11.6 per cent to Rs 26,759 crore in the fourth quarter of 2018-19 as compared to Rs 23,970 crore a year back.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-owned Oil and Natural Gas Corp (ONGC) Thursday reported a 31 per cent drop in its March quarter net profit as it faced a double whammy of a drop in production and fall in prices. Net profit in January-March at Rs 4,045 crore was 31.6 per cent lower than net profit of Rs 5,915 crore in the same period of the previous fiscal year, the company said in a statement. While oil production dropped 5 per cent to 4.8 million tonne, the price it realised for every barrel of crude oil sold was 3.6 per cent lower at $61.93. Gas [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-276808","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/276808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=276808"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/276808\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=276808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=276808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=276808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}