 "ONGC")
India’s largest oil producer, ONGC, declared Q4 results reflecting the rise in global energy prices. The standalone results don’t take into account large subsidiaries such as OVL, HPCL, Petronet, and MRPL as well as several JVs and associates. While OVL is wholly-owned, ONGC’s majority shareholding in HPCL increased due to a buyback offer by the refining major.
On a consolidated basis, ONGC recorded revenue from operations of Rs 1.14 trillion in Q4 2020-21, which was 9.6 per cent higher than Rs 1.04 trillion a year ago. Profit before extraordinary items and tax was Rs 11,507 crore, versus a loss of
