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ONGC reports 6 per cent fall in fourth-quarter net profit

Total income of 262.34 billion rupees was up almost 30 per cent on higher crude oil prices.

Published: 26th May 2017 06:34 PM  |   Last Updated: 26th May 2017 06:34 PM   |  A+A-

A technician opens a pressure gas valve inside the Oil and Natural Gas Corp (ONGC) group gathering station on the outskirts of Ahmedabad in March 2012. (File Photo | Reuters)

By Reuters

MUMBAI: Oil and Natural Gas Corporation Ltd, India's biggest hydrocarbon explorer, reported a 6 percent fall in fourth-quarter net profit to 43.40 billion rupees ($673 million) hurt by a one-time provision.

Analysts on average had expected a profit of 49.91 billion rupees.

Total income of 262.34 billion rupees was up almost 30 percent on higher crude oil prices.



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