ONGC shares end over 2% higher after Q4 results

Shares of Oil and Natural Gas Corp (ONGC) today ended with over 2 per cent gains after the company reported its highest profit in 17 quarters.

The stock settled at Rs 177.35, up 1.95 per cent on BSE. Intra-day, it jumped 3.50 per cent to Rs 180.05.

On NSE, the stock went up by 2.24 per cent to close at Rs 177.90.

In terms of equity volume, 6.87 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day.

State-owned ONGC's net profit in three-months to March 31, 2018, jumped 37 per cent on back of higher oil prices.

Net profit in the fourth quarter of 2017-18 at Rs 5,915.12 crore, or Rs 4.61 a share, was higher than Rs 4,340.18 crore net in the same period of the previous fiscal, the company said in a statement yesterday.

The board of directors of ONGC recommended a final dividend of Rs 1.35 per share (27 per cent). This is in addition to the interim dividend of Rs 5.25 per share declared in two phases previously.