{"id":360405,"date":"2020-07-01T10:05:50","date_gmt":"2020-07-01T04:35:50","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=360405"},"modified":"2020-07-01T10:29:44","modified_gmt":"2020-07-01T04:59:44","slug":"ongc-posts-loss-of-rs-10529-cr-in-q4-over-falling-crude-prices-lockdown","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongc-posts-loss-of-rs-10529-cr-in-q4-over-falling-crude-prices-lockdown\/","title":{"rendered":"ONGC posts loss of Rs 10,529 cr in Q4 over falling crude prices, lockdown"},"content":{"rendered":"<p>State-run Oil and Natural Gas Corporation (ONGC) reported a pre-tax loss of Rs 10,529 crore in the fourth quarter of the financial year 2019-20 (Q4FY20) because of a drop in crude oil prices, the impact of the lockdown, and exchange losses. <\/p>\n<p>This is ONGC\u2019s first ever quarterly loss. It earned a profit before tax (PBT) of Rs 11,691 crore in the corresponding period of FY19. The company\u2019s revenue from operations declined by 7 per cent to Rs 104,489 crore in the period under review, compared to Rs 112,539 crore the previous year. \u201cThis is one of the first times in recent years that we are posting a loss. The combined impact of reduced demand, Covid-19, reduced offtake and lower crude prices had an impact on our numbers to the tune of Rs 4,900 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-run Oil and Natural Gas Corporation (ONGC) reported a pre-tax loss of Rs 10,529 crore in the fourth quarter of the financial year 2019-20 (Q4FY20) because of a drop in crude oil prices, the impact of the lockdown, and exchange losses. This is ONGC\u2019s first ever quarterly loss. It earned a profit before tax (PBT) of Rs 11,691 crore in the corresponding period of FY19. The company\u2019s revenue from operations declined by 7 per cent to Rs 104,489 crore in the period under review, compared to Rs 112,539 crore the previous year. \u201cThis is one of the first times in [&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-360405","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\/360405","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=360405"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/360405\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=360405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=360405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=360405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}