ONGC rose 3.14% to Rs 252.80 at 9:38 IST on BSE after net profit dropped 21.15% to Rs 4232.54 crore on 20.23% decline in total income to Rs 18737.18 crore in Q1 June 2016 over Q1 June 2015.
The result was announced after market hours yesterday, 7 September 2016.Meanwhile, the BSE Sensex was down 28.53 points, or 0.10%, to 28,897.83.
On BSE, so far 3.07 lakh shares were traded in the counter, compared with average daily volume of 6.62 lakh shares in the past one quarter. The stock hit a high of Rs 254.70 and a low of Rs 247.85 so far during the day. The stock hit a 52-week high of Rs 267.65 on 12 October 2015. The stock hit a 52-week low of Rs 188 on 12 February 2016. The stock had outperformed the market over the past 30 days till 7 September 2016, rising 7.03% compared with 3% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.41% as against Sensex's 8.08% rise.
The large-cap company has equity capital of Rs 4277.75 crore. Face value per share is Rs 5.
ONGC has notified seven (7) new discoveries in Q1 June 2016 and eight (8) so far in the financial year ending March 2017 (3 new prospect discoveries and 5 new pool discoveries).
The company reported 2.02% decline in total crude oil production to 6.012 million metric tonne (MMT) in Q1 June 2016 over Q1 June 2015.
The company reported 17.78% decline in net realisation of crude oil to Rs 3085 per bbl in Q1 June 2016 over Q1 June 2015. In Dollar terms, the company reported 21.97% decline in net realisation of crude oil to $46.10 per bbl in Q1 June 2016 over Q1 June 2015.
ONGC did not bear any under-recovery discount in Q1 June 2016. However, in terms of the decision of the Government of India, the company had shared under-recoveries of oil marketing companies (OMCs) amounting to Rs 1096 crore in Q1 June 2015 by allowing discount in the prices of crude oil based on the rates of discount communicated by Petroleum Planning and Analysis Cell (PPAC).
ONGC is India's largest oil and gas exploration firm by sales.
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