Q2 results: ONGC profit rises 61%, beats estimates

NEW DELHI: Oil and Natural Gas Corp Ltd posted a 61% jump in second-quarter profit on Saturday, with higher crude oil prices helping it to beat forecasts.

ONGC’s net profit stood at Rs 8,265 crore in the quarter ended 30 September, compared with Rs 5,130 crore a year earlier, the company said in a stock exchange filing.

Analysts on average had expected a profit of Rs 6,861 crore, according to Refinitiv data.

Income from operations rose 47.5% to Rs 27,989 crore, ONGC said.

Source: Reuters

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