Bureaucracy

ONGC posts net profit of Rs1,378 cr

ONGC Board in its 334th meeting held on February 13, 2021, approved the results for third quarter (Q3) of FY 2020-21 (FY-21) with registering net profit of Rs 1,378 crore. Despite countrywide lockdown due to COVID-19 pandemic, the ONGC has almost reached last year’s production levels in c

By Whispers in the Corridors February 15, 2021 1 min read

ONGC Board in its 334^th meeting held on February 13, 2021, approved the results for third quarter (Q3) of FY 2020-21 (FY-21) with registering net profit of Rs 1,378 crore. Despite countrywide lockdown due to COVID-19 pandemic, the ONGC has almost reached last year’s production levels in case of crude oil from its operated blocks. The shortfall in gas production is primarily due to less off take by customers due to COVID-19 pandemic. Results highlight: Crude Oil Production from operated blocks reaches last year’s levels; net profit of Rs 1,378 crore on the gross revenue of Rs17,024 crore during Q3 FY-21; Interim Dividend of Rs1.75 per share and notifies 8 discoveries so far in FY’21.