ONGC Q2 net down by 5.7% at Rs 4,808 cr

Oil and Natural Gas Corporation net profit for the quarter ended September 30 came down by 5.7 per cent at Rs 4,808 crore as against  Rs 5,098 cr in the corresponding period last year.

Net profit of the company came down because the company paid discounts on oil sales of $72.6 per barrel, which pushed its net realization to $46.72 per barrel.

Crude Oil production during the quarter fell to 6.85 mn tonnes from 7 mn tonnes in the corresponding period last year.