ONGC Q4 profit jumps 12% to Rs 4,416 cr

NEW DELHI: Oil and Natural Gas Corp (ONCG) on Thursday reported a 12% jump in net profit to Rs 4,416 crore during the January-March quarter of 2015-16, from Rs 3,935

NEW DELHI: Oil and Natural Gas Corp (ONCG) on Thursday reported a 12% jump in net profit to Rs 4,416 crore during the January-March quarter of 2015-16, from Rs 3,935 crore in the same period of the previous fiscal. The reversed Rs 800 crore of impairment taken earlier on drop in oil prices and got another Rs 633 crore from the government for excess fuel subsidy it had paid earlier. It also gained Rs 1,585 crore on dry well provisioning.

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