State-run explorer Oil and Natural Gas Corp (ONGC) on Friday posted a 15 per cent rise in net profit at Rs 5,014.67 crore for the third quarter ending December buoyed by higher realisations.
ONGC had posted a profit after tax of Rs 4,352.33 crore in the corresponding quarter a year ago, the company said in a statement here.
Higher crude prices meant ONGC got $60.58 for every barrel of oil produced during the quarter in consideration as against $51.80 in the period of the last fiscal.
The gas price realised during the third quarter was also higher at $2.89 per million British thermal unit as against $2.5 per mbtu in same quarter of 2016-17. Read More…
