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ONGC up 3% post December quarter results

The stock was up 3% at Rs 195 on BSE in early morning trade after reported a strong operating performance led by higher gas volume and oil realization for the quarter ended December 2017.

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A technician is pictured inside a desalter plant of Oil and Natural Gas Corp (ONGC) on the outskirts of Ahmedabad (Photo: Reuters)

SI Reporter Mumbai
Oil and Natural Gas Corporation (ONGC) was trading 3% higher at Rs 195 on BSE in early morning trade after reporting a strong operating performance led by higher gas volume and oil realization for the quarter ended December 2017 (Q3FY18).

The company’s natural gas production saw an increase of 4.2% during the quarter under review to 6.277 billion cubic meter (BCM) as against 6.025 bcm during the same quarter in 2016.

ONGC posted a 15.2% year on year (YoY) rise in net profit for the third quarter of the financial year 2017-18 to Rs 50.15 billion, compared to