Financial Daily from THE HINDU group of publications
Thursday, Oct 27, 2005
Financial Daily from THE HINDU group of publications Thursday, Oct 27, 2005 |
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Corporate Results
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Petroleum ONGC posts 22 pc increase in Q2 net Our Bureau
New Delhi , Oct. 26 THE public sector oil major Oil and Natural Gas Corporation (ONGC) has registered a 22 per cent increase in its net profit at Rs 4,138 crore after subsidy pay-out of Rs 2,827 crore to downstream companies for the second quarter of this financial year. The corporation had reported a net profit of Rs 3,384 crore previously. The company has registered a 31 per cent increase in net profit at Rs 7,457 crore for the half-year period up from Rs 5,692 crore registered previously, after subsidy payout of Rs 5,701 crore to downstream companies. During the half year, sales revenues increased by 6 per cent at Rs 23,682 crore. During the second quarter, ONGC saw crude production drop to 5.44 million tonnes against 5.81 million tonnes recorded during the first quarter mainly due to loss of production as a result of the accident on BHN platform in late July this year.
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