ONGC declares results of Q1 FY’18

The ONGC has declared results of Q 1 FY’18 while reports 10.8% increase in Gas Production and 2.9% increase in Crude Production (QoQ). It highlights: records 10.8% increase in standalone Natural Gas production; Crude production increases by 2.9%; Net standalone oil and gas production up 6.7 % QoQ. Notifies 5 new discoveries in Q1 (3 new prospect discoveries and 2 new pool discoveries). Gross Revenue ` 19,073 crore, up 7.2 % QoQ. Net Profit ` 3,885 crore, down 8.2 % QoQ.