New Delhi: State-run explorers ONGC On Friday, the July-September period reported a net profit of Rs 18,347 crore, the highest quarterly profit earned by an Indian company. Profit rose by 565% from Rs 2,758 crore in the previous corresponding period due to higher oil prices and one-time gain on opting for a lower tax rate regime.
The record for highest quarterly profit was held by? Reliance Industries, which had made a profit of Rs 15,479 crore during the previous quarter. ONGC’s revenue rose 44% to Rs 24,353 crore in the July-September period from Rs 16,917 crore in the same period of 2020 to $69.4 per barrel of oil produced, offsetting the fall in production.
Board declared interim dividend of Rs 5.5 per share, trading 1% higher at Rs 154.80 if, The company decided to opt for a lower tax regime from 2020-21 and re-measured its net deferred tax liabilities. The move has reduced deferred tax by Rs 8,541 crore and existing tax by Rs 1,304 crore.
Oil and gas production declined during the current year mainly due to restrictive conditions created by the cyclone, a company statement said. Toughness, which impacted operations in the western offshore and the impact of the pandemic.
“More delay in mobilization Sagar Samrat WO-16 Cluster Project Affected
The record for highest quarterly profit was held by? Reliance Industries, which had made a profit of Rs 15,479 crore during the previous quarter. ONGC’s revenue rose 44% to Rs 24,353 crore in the July-September period from Rs 16,917 crore in the same period of 2020 to $69.4 per barrel of oil produced, offsetting the fall in production.
Board declared interim dividend of Rs 5.5 per share, trading 1% higher at Rs 154.80 if, The company decided to opt for a lower tax regime from 2020-21 and re-measured its net deferred tax liabilities. The move has reduced deferred tax by Rs 8,541 crore and existing tax by Rs 1,304 crore.
Oil and gas production declined during the current year mainly due to restrictive conditions created by the cyclone, a company statement said. Toughness, which impacted operations in the western offshore and the impact of the pandemic.
“More delay in mobilization Sagar Samrat WO-16 Cluster Project Affected
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