ONGC posts net profit of Rs 17,900 cr for FY’17

In its 293rd Board meeting held on May 26, 2017, ONGC presented the annual results for FY’17. The company highlights its achievements: registers Gross Revenue of Rs 77,907 crore in FY’17, against Rs 77,740 crore in FY’16; declares final dividend of 16% taking total dividend payout in FY’17 to 121% (adjusted post bonus equity); makes 23 discoveries in FY’17, compared to 17 in FY’16 and consolidated ONGC Group’s net profit at Rs 20,498 crore in FY’17; up by 59.2% as against FY’16.