ONGC drops after poor Q2 outcome

ONGC fell 1.93% at Rs 247.10 at 09:25 IST on BSE after net profit declined 11.1% to Rs 4842.02 crore on 1% increase in net sales to Rs 20563.19 crore in Q2 September 2015 over Q2 September 2014.

The result was announced after market hours on Friday, 6 November 2015.

Meanwhile, the S&P BSE Sensex was down 440.77 points or 1.68% at 25,824.47

On BSE, so far 26,393 shares were traded in the counter as against average daily volume of 4.39 lakh shares in the past one quarter.

The stock hit a high of Rs 249.60 and a low of Rs 245 so far during the day. The stock had hit a 52-week high of Rs 412.40 on 10 November 2014. The stock had hit a 52-week low of Rs 208 on 25 August 2015.

India's largest oil & gas exploration firm by sales has equity capital of Rs 4277.75 crore. Face value per share is Rs 5.

ONGC's subsidy stood at Rs 596 crore in Q2 September 2015 as compared to Rs 13641 crore in Q2 September 2014.

ONGC's crude oil, condensate and natural gas production rose 1.4% to 12.976 million tonne of oil equivalent (MMToe) in Q2 September 2015 over Q2 September 2014.

ONGC said that the company has so far notified 10 new discoveries (5 new prospect and 5 new pool) so far in the year ending 31 March 2016.

ONGC's board of directors at its meeting held on Friday, 6 November 2015 declared an interim dividend of Rs 4.50 per equity share for the year ending 31 March 2016.

ONGC is India's largest oil and gas exploration firm by sales. The Government of India holds 68.93% stake in ONGC (as per the shareholding pattern as on 30 September 2015).

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