Narendra Modi's Washington test

Narendra Modi's Washington test

If Modi gets the world’s biggest power right, his pursuit of larger global goals...
Small banks or banks for ‘small’ people?

Small banks or banks for ‘small’ people?

Unless appropriate sub-limits are imposed on loans, there is a serious...

ONGC Q3 net profit down 17%, but beats estimate

Feb 11 2013, 19:00 IST
Comments 0
The company reported a net profit of $1.04 billion for its fiscal third quarter ended December. (Reuters) The company reported a net profit of $1.04 billion for its fiscal third quarter ended December. (Reuters)
SummaryThe company reported a net profit of $1.04 billion for its fiscal third quarter ended December.

Indian state-run producer Oil & Natural Gas Corp reported a 17 percent fall in quarterly profit, but beat expectations, helped by higher sales and nearly flat subsidy provision.

The company reported a net profit of 55.63 billion rupees ($1.04 billion) for its fiscal third quarter ended December, down from 67.4 billion rupees a year earlier, which had included a one-time gain on account of royalty dues from a joint venture partner.

Analysts on average had expected the company to post a net profit of 53.7 billion rupees for the quarter.

Net sales rose 16 percent to 209.87 billion rupees.

Shares of ONGC, India's third-biggest company by market value, closed 1.7 percent lower on Monday, ahead of the results. The stock has jumped 15 percent so far in 2013, outperforming a 6 percent rise in the sectoral index.

Stocks More on ONGC

Company INFO More on ONGC

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...