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ONGC Gains 4% On Second Quarter Earnings

ONGC on Saturday reported a 3.1 per cent rise in second quarter net profit as impressive gain from rising oil prices were taken away by fall in government-mandated natural gas rates.
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ONGC on Saturday reported a 3.1 per cent rise in September quarter net profit
ONGC on Saturday reported a 3.1 per cent rise in September quarter net profit
New Delhi: Shares of Oil and Natural Gas Corp (ONGC) on Monday rose by move than 4 per cent, after the company reported a 3.1 per cent rise in second quarter net profit. The stock gained 4.14 per cent to Rs 191.15 on the Bombay Stock Exchange (BSE). At the National Stock Exchange (NSE), ONGC shares rose 3.99 per cent to Rs 191.35. In terms of equity volume, 7.73 lakh shares of the company traded on BSE and over one crore shares changed hands at NSE in morning trade.

State-owned ONGC on Saturday reported a 3.1 per cent rise in second quarter net profit as impressive gain from rising oil prices were taken away by fall in government-mandated natural gas rates.

Net profit of Rs 5,131 crore in July-September was 3.1 per cent higher than Rs 4,975 crore reported for the corresponding period last year, the company said in a press statement.

Revenue was up 3.1 per cent at Rs 18,966 crore.

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