ONGC Q4 net profit falls 6%, shares up 1%
Total income of Rs 26,234 crore was up almost 30% on higher crude oil prices.business Updated: May 26, 2017 19:08 IST
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.
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)