ONGC Cauvery Asset records highest ever revenue, profit

Written by PTI | Karaikal | Updated: Aug 16 2014, 00:56am hrs
ONGCCauvery Asset exceeded the oil and gas production targets by six per cent during FY 2013-14. Reuters
ONGC Cauvery Asset, headquartered here has achieved the highest ever revenue and profit during the financial year 2013-14, a top officials of the company said.

S C Singh, Group General Manager, after hoisting the National Flag at ONGC grounds here today, told reporters that the Cauvery asset had earned the highest ever revenue of Rs 2,332 crore during the Financial Year 2013-14, which is 13 per cent higher than the previous financial year.

The Net Profit for the period was Rs 1,423 crore, Singh said, adding, Cauvery Asset had exceeded the oil and gas production targets by six per cent during FY 2013-14.

The Cauvery Asset has received three awards under safety and environment protection categories from Greentech foundation, New Delhi, this year, he said.

He pointed out that the Cauvery Asset had undertaken various projects under Corporate Social Responsibility Scheme and had spent more than Rs 10 crore towards development of school infrastructure and creation of self employment opportunities in this area since last year.