Shares of Oil and Natural Gas Corporation lost over 3 per cent on Monday after the company posted halving of its December quarter net profit.
On the BSE, the stock slumped 3.15 per cent to Rs 100. On the National Stock Exchange (NSE), it fell 3.19 per cent to Rs 100.
State-owned Oil and Natural Gas Corporation (ONGC) on Friday reported halving of its net profit in the third quarter ended December 2019, after it faced the double whammy of falling oil and gas prices and a drop in production.
Standalone net profit in the October-December 2019 period at Rs 4,152 crore was 49.8 per cent lower than Rs 8,263 crore net profit in the corresponding period of the previous financial year, the company said in a statement.
Disclaimer: No Business Standard Journalist was involved in creation of this content
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