New Delhi– State-run explorer Oil and Natural Gas Corp (ONGC) on Wednesday posted a 21.14 per cent fall in net profit for the first quarter ended June at Rs 4,232 crore, as compared to Rs 5,386 crore in the same quarter a year ago caused by lower crude prices.
The company’s gross revenue for the quarter in consideration also fell by a similar 21.4 per cent to Rs 17,784 crore, as compared to Rs 22,628 crore in the first quarter of the last fiscal.
Operating income or EBITDA (earnings before interest, taxes, depreciation and amortization) during the quarter in question also fell, coming in at Rs 8,484 crore, as against Rs 10,636 crore in the same quarter last year.
ONGC stock closed on Monday at Rs 245.10 a share, up 6 points, or 2.51 per cent, over its previous close on the Bombay Stock Exchange.
