Business Standard

ONGC nears five-month low post Q2 results

The company's subsidy outgo has been more than doubled to Rs 12,330 crore in Q2 from Rs 5,713 crore in the same quarter of last fiscal

Related News

Oil and Natural Gas Corporation (ONGC) is trading lower by 2.4% at Rs 259, near to its June 2012 level, after reporting a sharpest year-on-year fall in net profit since December 2008 quarter.

The net profit of the state-owned oil exploration company has declined by 32% in September quarter to Rs 5,897 crore against Rs 8,642 crore in previous year quarter due to higher subsidy outgo. The company’s subsidy outgo has been more than doubled to Rs 12,330 crore in Q2 from Rs 5,713 crore in the same quarter of last fiscal.

Meanwhile, the company's sales fell by 12.5% to Rs 19,853 crore on year-on-year basis due to fall in crude oil production. Crude oil production fell 4.6 per cent to 6.527 million tons while gas ouput was down by a marginal 0.5% to 6.359 billion cubic metres, said in a statement.

The stock opened at Rs 263 and hit a high of Rs 265 on the BSE. A combined 2.18 million shares have already changed hands on the counter so far against an average around three million shares that were traded daily in past two weeks.

Read more on:   
|
|

Read More

BSE launches carbon index

Premier bourse BSE, in collaboration with the UK government, today launched BSE Carbonex, the first-of-its-kind index in India or any emerging market ...

Quick Links

 

Market News

Debt mutual funds see outflow of Rs 67,000 cr in Sept

In comparison, equity mutual fund schemes attracted a net amount of Rs 7,789 crore during the month

FMC takes fresh measures to boost liquidity in commodity market

It has also directed bourses to disclose open position limits of top 10 trading clients including hedgers on their website

Comexes look forward to better times

NCDEX has seen volumes surge 15%

Oil resumes slide in Asian trade

Investors wait for more signs of economic growth in Europe

Markets closed on account of Diwali Balipratipada

Indian equity, forex, money and commodity markets are shut today on account of Diwali Balipratipada.

Back to Top