ONGC drops after reporting dismal Q1 results

ONGC dropped 1.44% to Rs 161.10 at 10: 30 IST on BSE after net profit fell 8.21% to Rs 3885 crore on 7.2% increase in gross revenue to Rs 19073 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 27 July 2017.

Meanwhile, the S&P BSE Sensex was down 98.53 points or 0.3% at 32,284.77.

On the BSE, 1.87 lakh shares were traded on the counter so far as against the average daily volumes of 9.48 lakh shares in the past one quarter. The stock had hit a high of Rs 162.15 and a low of Rs 160.35 so far during the day. The stock had hit a 52-week high of Rs 212 on 31 January 2017 and a 52-week low of Rs 145.23 on 2 August 2016.

The stock had underperformed the market over the past one month till 27 July 2017, rising 2.19% compared with 4.6% rise in the Sensex. The scrip also underperformed the market in past one quarter, dropping 8.97% as against Sensex's 7.84% rise. The scrip had also underperformed the market in past one year, gaining 9.97% as against Sensex's 15.55% rise.

The large-cap company has equity capital of Rs 6416.62 crore. Face value per share is Rs 5.

ONGC's net nominated crude oil realisation rose to $51.03 per barrel in Q1 June 2017 from $46.10 per barrel in Q1 June 2016.

ONGC is India's largest oil and gas exploration firm by sales. The Government of India held 68.07% stake in ONGC as per the shareholding pattern as on 30 June 2017.

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