Oil and Natural Gas Corporation 's (ONGC) net profit declined 11.3 percent sequentially to Rs. 4,842 crore in July-September quarter, impacted by lower revenue and weak operational performance.
The revenue slipped 9.4 percent to Rs. 20,679 crore during the quarter compared to Rs. 22,825 crore in preceding quarter. Profit was ahead of estimates but EBITDA disappointed street.
The company has paid subsidy amount (to oil marketing companies) of Rs. 598 crore for the quarter against Rs. 1,133 crore in preceding quarter. ONGC has declared an interim dividend of Rs. 4.50 per share, amounting to Rs. 3,850 crore for the quarter.
The stock closed at Rs. 251.90 ahead of earnings that announced after market hours.
As per respected market analysts, the earnings are unlikely to impact the performance of the share in the next week if the overall market is in good stead and may not see any negative reaction.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app