New Delhi:
On Tuesday, Oil and Natural Gas Corporation (ONGC) announced its financial results for the March quarter of the fiscal year 2024.
The company reported a significant increase in net profit, which surged 19 times to reach Rs 9,869 crore.
The company’s net profit soared significantly, marking a 19-fold increase and reaching Rs 9,869 crore.
Declaration of Dividend
The board of ONGC has declared a dividend of Rs 2.50 per share for its investors.
As of 10:31 am on Tuesday’s trading session, ONGC shares were trading at Rs 281.70.
Revenue and Operational Costs
In the March quarter, ONGC’s revenue decreased by 4.5 percent to Rs 34,637 crore. Meanwhile, the operational cost fell by 12 percent to Rs 25,456 crore.
For the entire fiscal year 2024, ONGC’s total profit rose to Rs 40,526 crore, compared to Rs 40,097 crore in the previous fiscal year 2023.
Revenue and Costs
In the March quarter, ONGC’s revenue fell by 4.5 percent to Rs 34,637 crore.
The operational cost also decreased by 12 percent to Rs 25,456 crore.
For the financial year 2024, ONGC’s total profit rose to Rs 40,526 crore,
compared to Rs 40,097 crore in the previous financial year.
Crude Oil and Gas Production
During the fourth quarter, ONGC’s crude oil production increased by 2.24 percent.
However, in the gas segment, production fell by 3 percent.
