ONGC Q4 net profit falls 6%, shares up 1%
Hindustan Times, New Delhi |
HT Correspondent May 26, 2017 07:08 PM IST
Total income of Rs 26,234 crore was up almost 30% on higher crude oil prices.
Oil and Natural Gas Corporation Ltd, India’s biggest hydrocarbon explorer, reported a 6% fall in fourth-quarter net profit to Rs 4,340 crore ($673 million) hurt by a one-time provision.
Analysts on average had expected a profit of Rs 4,991 crore.
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Total income of Rs 26,234 crore was up almost 30% on higher crude oil prices.
ONGC shares were up 0.95% at Rs 175.80 in a firm Mumbai market whose benchmark Sensex was up 0.9% to hit a record 31,028.21.
(With inputs from Reuters)
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