Oil and Natural Gas Corporation on Thursday reported a surprise 12 per cent rise in net profit to Rs 4,416 crore for the quarter ended March 31, 2016 helped by a one-off gain compared to Rs 3,935 crore in the corresponding quarter last year.
Analysts on average had expected a net profit of Rs 2817 crore, according to data compiled by Thomson Reuters.
However, total income from operations slid 24 per cent to Rs 16,384.77 cr from Rs 21,647.49 crore in the same quarter last year.
The board of ONGC also recommended a final dividend of Rs 3.25 per equity share of Rs 5 each, for the financial year 2015-16.