ONGC declares Q2 FY’18; records impressive production

Oil and Natural Gas Corporation Limited (ONGC) has declared results for Q2 FY’18 and recorded impressive production performance.  It highlights: gross revenue 18,966 crore, up 3% Q-o-Q;  net profit 5,131 crore, up 3% Q-o-Q;  records 8% increase in natural gas production; 1% increase in crude oil production and 10% increase in VAP production Q-o-Q; notifies 9 discoveries so far in FY’18; declares interim dividend of 60%; In its 299th board meeting under the chairmanship of Shashi Shankar, CMD, held on October 28, 2017, ONGC presented the Quarterly results for the second quarter ended September 30, 2017. ONGC Board has approved an interim dividend of 60%, i.e. 3 on each equity share of 5. The total payout on this account will be 3,850 crore. The Record date for distribution of dividend has been fixed for 6th November, 2017 which has been intimated to the stock exchanges. The payment of interim dividend to the shareholders shall start from November 7, 2017.