ONGC net leaps 23%

Riding on higher realisations and a smaller subsidy bill, the country’s largest oil and gas producer, Oil and Natural Gas Corporation (ONGC), has reported a 23.4 per cent jump in net profit to Rs 3,053.6 crore in the October-December quarter, from Rs 2,474.81 crore last year.

Riding on higher realisations and a smaller subsidy bill, the country’s largest oil and gas producer, Oil and Natural Gas Corporation (ONGC), has reported a 23.4 per cent jump in net profit to Rs 3,053.6 crore in the October-December quarter, from Rs 2,474.81 crore last year. “ONGC’s subsidy bill in the quarter was Rs 3,497 crore — 29 per cent less than a year earlier,” said CMD, R.S. Sharma.

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