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ONGC Q4 net up 37 pc at Rs 5,915 cr

May 30th, 2018 10:12 pm | By | Category: LATEST NEWS

Shashi Shankar

Shashi Shankar

Oil and Natural Gas Corp (ONGC) of which Shashi Shekhar is CMD, ONGC reported its highest profit in 17 quarters after net profit in three-months to March 31, 2018 jumped 37 per cent on back of higher oil prices. Net profit in the fourth quarter of 2017-18 at Rs 5,915.12 crore, or Rs 4.61 a share, was higher than Rs 4,340.18 crore net in the same period of the previous fiscal, the company said in a statement.

ONGC realised USD 66.71 for every barrel of crude oil it produced from nominated fields, up from USD 54.91 a barrel it got in January-March 2017. Gas price realisation was also up 15.6 per cent at USD 2.89 per million British thermal unit.

ONGC’s oil production declined 3 per cent at 6.2 million tonnes in the quarter.

For the full 2017-18 fiscal, net profit was up 11.4 per cent at Rs 19,945 crore.

Turnover in the fourth quarter rose 5 per cent to Rs 27,703.54 crore.

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