ONGC net profit rises nearly seven-fold in Q1 to Rs 6,846 crore

Consolidated total income rose to Rs 1,09,301.82 crore, up from Rs 63,694.14 crore last year

Oil and Natural Gas Corporation (ONGC) reported a near sevenfold rise in consolidated profit to Rs 6,846.73 crore for the first quarter of financial year 2021-22 (Q1FY22). The consolidated profit was Rs 1,085.05 crore in the corresponding quarter last year.

Consolidated total income during the period under review also rose to Rs 1,09,301.82 crore, up from Rs 63,694.14 crore last year.

The consolidated results include proceeds from ONGC’s subsidiary, Hindustan Petroleum Corporation (HPCL). 

On a standalone basis, gross revenue stood at Rs 23,022 crore in Q1, up from Rs 13,011 crore last year. Standalone Net profit rose to Rs 4,335 crore, up from