{"id":384177,"date":"2020-11-16T09:10:55","date_gmt":"2020-11-16T03:40:55","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=384177"},"modified":"2020-11-16T09:10:55","modified_gmt":"2020-11-16T03:40:55","slug":"ongc-books-rs-1238-cr-impairment-loss-q2-net-profit-down-55","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongc-books-rs-1238-cr-impairment-loss-q2-net-profit-down-55\/","title":{"rendered":"ONGC books Rs 1,238 cr impairment loss, Q2 net profit down 55%"},"content":{"rendered":"<p>NEW DELHI: India&#8217;s top oil and gas producer ONGC booked a Rs 1,238-crore impairment loss, which together with a fall in prices led to a 55 per cent drop in the company&#8217;s September quarter net profit.<br \/>\nStandalone net profit at Rs 2,878 crore in July-September quarter was 54.6 per cent lower than Rs 6,336 crore net profit a year ago, the company said in a statement.<br \/>\nRevenue dropped 31 per cent to Rs 16,917 crore.<br \/>\nThe company got $41.38 for every barrel of crude oil it produced and sold in the second quarter of the current fiscal. This was 31.4 per cent lower than $60.33 per barrel price it had got in July-September 2019.<br \/>\nGas price was also down by more than one-third to $2.39 per million British thermal unit.<br \/>\n&#8220;The revenue and profit-after-tax (PAT) for Q2 and H1 of FY&#8217;21 have declined as compared to corresponding period of FY&#8217;20 mainly due to lower crude oil price realisation. Lower gas prices also contributed to lower topline and bottomline,&#8221; it said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: India&#8217;s top oil and gas producer ONGC booked a Rs 1,238-crore impairment loss, which together with a fall in prices led to a 55 per cent drop in the company&#8217;s September quarter net profit. Standalone net profit at Rs 2,878 crore in July-September quarter was 54.6 per cent lower than Rs 6,336 crore net profit a year ago, the company said in a statement. Revenue dropped 31 per cent to Rs 16,917 crore. The company got $41.38 for every barrel of crude oil it produced and sold in the second quarter of the current fiscal. This was 31.4 [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-384177","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/384177","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=384177"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/384177\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=384177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=384177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=384177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}