Public sector behemoth Oil and Natural Gas Corporation (ONGC) on Friday reported 565% surge in standalone net profit at Rs 18,348 crore for the quarter ending September 30, 2021. It was Rs 2,758 crore in the year-ago period.
Revenue rose 44% to Rs 24,353 crore as compared to Rs 16,916 crore in Q2FY21.
The company also declared interim dividend of Rs 5.5 per share. The total payout on this account will be Rs 6,919 crore. The record date for distribution of dividend has been fixed for November 23, 2021.
On Friday, the company's scrip on NSE closed nearly 1% higher at Rs 154.80.
"The production of crude oil and gas has declined during current year mainly due to restrictive conditions created by cyclone Tauktae and due to Covid impact," ONGC said in a statement.
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