ONGC rose 0.91% to Rs 378.05 at 9:17 IST on BSE after net profit surged 44.3% to Rs 4889 crore on 2.3% decline in gross revenue to Rs 21403 crore in Q4 March 2014 over Q4 March 2013.
The result was announced after market hours on Thursday, 29 May 2014.
Meanwhile, the BSE Sensex was up 49.92 points, or 0.21%, to 24,284.07.
On BSE, so far 15,000 shares were traded in the counter, compared with an average volume of 3.70 lakh shares in the past one quarter.
The stock hit a high of Rs 378.95 and a low of Rs 371.45 so far during the day. The stock hit a record high of Rs 424.80 on 26 May 2014. The stock hit a 52-week low of Rs 234.40 on 28 August 2013.
The stock had outperformed the market over the past one month till 29 May 2014, rising 17.08% compared with 7.87% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 28.50% as against Sensex's 14.74% rise.
The large-cap company has an equity capital of Rs 4277.74 crore. Face value per share is Rs 5 .
ONGC's net profit rose 5.6% to Rs 22095 crore on 1.1% growth in gross revenue to Rs 84201 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
The impact on ONGC's net profit due to under-recovery discount to OMCs rose 10.94% to Rs 31524 crore in FY 2014 over FY 2013.
On consolidated basis, ONGC's net profit rose 9.4% to Rs 26507 crore on 7.5% growth in turnover to Rs 178205 crore in FY 2014 over FY 2013.
Commenting on the company's financial performance, ONGC CMD Mr. D K Sarraf said, Our focus on our Long Term Strategy Perspective Plan 2030 has generated momentum. This fiscal's score card showcases our record performance in Reserve accretion, sustainability and sound financial management. We would renew our focus on the key performance indicators that will guide ONGC to reach greater heights in the coming years.
ONGC is India's largest government-run corporation and produces about 70% of India's crude oil and natural gas. The corporation is the biggest public sector commercial organization in India with current market capitalization of about $60 billion. The Indian government holds a 68.94% stake in ONGC (as on 31 March 2014).
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