ONGC Q4 net falls 6% to Rs 4,340 cr on higher expenses

Absence of one-time gain seen in same period of FY16 at Rs 389 cr also impacted profit margins

State run Oil and Natural Gas Corporation Ltd (ONGC)'s standalone net profit fell 6% to Rs 4,340 crore on account of higher expenses and the absence of a one-time gain seen in the corresponding quarter last year.

The company’s standalone profit for the March quarter was at Rs 4,340 crore, 6% lower compared to Rs 4624.3 crore reported in the same period a year back. In the same quarter, the company’s total income rose 29% to Rs 26233.56 crore from Rs 20297.83 crore in the corresponding quarter a year back. Total expenses, however, rose at a higher rate of 48%