ONGC fourth-quarter profit up 36 percent, misses estimates

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Reuters
Last Updated : May 30 2018 | 7:37 PM IST

(Reuters) - India's top explorer Oil and Natural Gas Corp posted a 36 percent rise in fourth-quarter profit on Wednesday, but missed analysts' expectations.

Standalone profit, which does not include the financials of some of its units, rose to 59.15 billion rupees ($876.49 million) for the quarter ended March 31, from 43.40 billion rupees a year earlier, the company said.

On average, analysts had expected the company to post a profit of 63.70 billion rupees, Thomson Reuters data showed.

Revenue from ONGC's offshore operations rose about 7 percent to 160.78 billion rupees.

($1 = 67.4850 Indian rupees)

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(Reporting by Jessica Kuruthukulangara and Aby Jose Koilparambil in Bengaluru; Editing by Shounak Dasgupta)

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First Published: May 30 2018 | 7:29 PM IST

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