ONGC Q1 net drops 8.2% to Rs 3,885 cr

Gross revenue zoomed 7.2% to Rs 19,073 cr

A technician is pictured inside a desalter plant of Oil and Natural Gas Corp (ONGC) on the outskirts of Ahmedabad. (File photo: Reuters)

State-run Oil and Natural Gas Corporation (ONGC) posted an 8.2 per cent fall in net profit for the June quarter (Q1) of 2017-18 to Rs 3,885 crore, against Rs 4,233 crore in the corresponding quarter in FY17.

A major reason for the fall was believed to be a drop in domestic natural gas prices by 19 per cent from $3.06 per million metric British thermal unit (mmBtu) in FY17