ONGC Reports 6% Fall In Fourth-Quarter Net Profit

Mumbai: Oil and Natural Gas Corporation Ltd, India’s biggest hydrocarbon explorer, reported a 6 per cent 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 per cent on higher crude oil prices.
($1 = Rs. 64.4750)
© Thomson Reuters 2017

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