ONGC's Q1 standalone net profit down 3.9%

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SME Times News Bureau | 14 Aug, 2019
Diversified energy major ONGC on Tuesday reported a decline of 3.9 per cent in its standalone net profit for the quarter ended June 30, 2019.

According to the company, the standalone Q1 net profit fell to Rs 5,904 crore against Rs 6,144 crore reported during the corresponding period of previous fiscal.

However, gross revenues of the diversified energy major declined 2.4 per cent to Rs 26,555 crore against Rs 27,213 crore in the 2018-19.

On a consolidated basis, the company reported a decline 24.4 per cent in its Q1 net profit at Rs 7,043 crore from Rs 9,318 crore on a YoY basis.

The company reported that its consolidated net profit attributable to owners was down 19.2 per cent to Rs 6,694 crore from Rs 8,287 crore reported for the corresponding period of the previous year.