 "A technician opens a pressure gas valve inside the Oil and Natural Gas Corp (ONGC) group gathering station on the outskirts of Ahmedabad")
State run Oil and Natural Gas Corporation Ltd (ONGC)'s standalone net profit rose almost three-fold in the December 2016 ended quarter, but missed street estimates. The year-on-year jump in profit came against a high exceptional cost item reported in the comparative quarter of the last financial year.
The Company has posted a net profit of Rs 4,352.33 crore against Rs 1,465.88 crore in the same period a year ago. In the October-December 2015 quarter, the company had a reported an exceptional cost item of Rs 3,616.41 crore against no exceptional cost reported in the same quarter in 2016. The exceptional cost
