{"id":449792,"date":"2021-11-15T10:59:22","date_gmt":"2021-11-15T05:29:22","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=449792"},"modified":"2021-11-15T10:59:22","modified_gmt":"2021-11-15T05:29:22","slug":"at-%e2%82%b918347-crore-ongc-posts-highest-ever-quarterly-profit-by-an-indian-company","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/at-%e2%82%b918347-crore-ongc-posts-highest-ever-quarterly-profit-by-an-indian-company\/","title":{"rendered":"At \u20b918,347 crore, ONGC posts highest ever quarterly profit by an Indian company"},"content":{"rendered":"<p>NEW DELHI: State-run explorer ONGC on Friday reported a net profit Rs 18,347 crore in the July-September period, marking the highest quarterly profit made by an Indian company. Profit zoomed 565% from Rs 2,758 crore in the previous corresponding period on the back of elevated oil prices and onetime gain on opting for a lower tax rate regime.<br \/>\nThe record of highest quarterly profit was held by Reliance Industries, which had posted a profit of Rs15,479 crore during the last quarter. ONGC\u2019s revenue surged 44% to Rs 24,353 in the July-September period against Rs16,917 crore in the same period of 2020 irealisation from each barrel of oil produced rose to $69.4, which offset the fall in production.<br \/>\nThe board declared an interim dividend of Rs 5.5 per share, which traded 1% higher to close at Rs 154.80 on the NSE. The company decided to opt for a lower tax regime with effect from 2020-21 and re-measured its net deferred tax liabilities. The move lowered deferred tax by Rs 8,541 crore and current tax by Rs 1,304 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: State-run explorer ONGC on Friday reported a net profit Rs 18,347 crore in the July-September period, marking the highest quarterly profit made by an Indian company. Profit zoomed 565% from Rs 2,758 crore in the previous corresponding period on the back of elevated oil prices and onetime gain on opting for a lower tax rate regime. The record of highest quarterly profit was held by Reliance Industries, which had posted a profit of Rs15,479 crore during the last quarter. ONGC\u2019s revenue surged 44% to Rs 24,353 in the July-September period against Rs16,917 crore in the same period of [&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-449792","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\/449792","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=449792"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/449792\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=449792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=449792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=449792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}