ONGC rose 0.98% to Rs 175.65 at 9:23 IST on BSE after net profit rose 36.3% to Rs 5915.12 crore on 10.4% increase in net sales to Rs 23969.83 crore in Q4 March 2018 over Q4 March 2017.
The result was announced after market hours yesterday, 30 May 2018.On the BSE, 55,000 shares were traded in the counter so far compared with average daily volumes of 5.74 lakh shares in the past two weeks. The stock had hit a high of Rs 178 and a low of Rs 175.15 so far during the day. The stock hit a 52-week high of Rs 212.90 on 25 January 2018. The stock hit a 52-week low of Rs 155.30 on 27 June 2017.
ONGC's net realisation for the quarter stood at $66.71 a barrel, compared to $54.91 a barrel during Q4 March 2017.
Meanwhile, the company's crude oil production, including condensate, dropped by 3% to 6.2 million tonne during the quarter under review, while during the same period last year, it produced 6.39 MT. The yearly production of crude oil also saw a marginal decline of 0.4%.
Overall gas production during the fourth quarter increased by 2.2% to 6.07 billion cubic meter (bcm), while it was seen at 5.94 bcm during the Q4 March 2017. For the entire financial year 2017-2018, the company's gas production increased by 5.8% to 24.61 bcm.
ONGC is engaged in oil and gas exploration. The Government of India held 67.72% stake in ONGC as per the shareholding pattern as on 31 March 2018.
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