ONGC Q3 net drops 17% to Rs 5,563 cr

Oil major ONGC reported a 17% drop in net profit at Rs 5,563 crore for the third quarter ended December 2012. It was Rs 6,741 crore for the same quarter a year ago.

However, total income increased 15% to Rs 22,374 crore as compared to Rs 19,475 crore in December 2011.

Its stocks closed on Monday 1.6% lower at Rs 308 apiece.