ONGC Q2 profit jumps 57% to Rs 15,489 crore on higher oil prices, rupee depreciation
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓ONGC reported a 57% jump in quarterly profit to Rs 15,489 crore.
- ✓Higher oil prices and rupee depreciation helped the firm, even as production fell 3% during the July-September quarter.
- ✓The company declared an interim dividend of Rs 8 per share, which is the highest-ever interim dividend for the firm.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Synopsis
ONGC has reported a significant 57% increase in quarterly profit, reaching Rs 15,489 crore. The profit surge is attributed to higher oil and gas prices combined with rupee depreciation. Gross revenue also rose by 33% to Rs 43,875 crore during the July-September quarter. The company announced an interim dividend of Rs 8 per share, marking its highest-ever interim dividend.
New Delhi: Oil and Natural Gas Corp (ONGC) reported a 57% year-on-year surge in quarterly profit to Rs 15,489 crore, aided by higher oil and gas prices and rupee depreciation.
Gross revenue rose 33% to Rs 43,875 crore in the July-September quarter. The company declared an interim dividend of Rs 8 per share, with November 12 as the record date. At Rs 10,064 crore, this is the highest-ever interim dividend, the company said in a statement.
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The Economic Times
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