ONGC Net earnings soars 800% to Rs 4,335 crore


ONGC Net earnings soars 800% to Rs 4,335 crore

New Delhi: State-owned Oil and Natural Gas Corp (ONGC NSE -0.13 %) net earnings soared through almost 800 in step with cent within side the first region of the modern-day financial after greater than doubling of oil charges compensated for a fall in manufacturing. 

Net earnings in April-June at Rs four,335 crore changed into 772.2 in step with cent better than Rs 497 crore in Q1 of preceding financial while call for in addition to fee had plummeted because of coronavirus-associated lockdown, the organization stated in a statement.

The organization were given USD 65.fifty nine for each barrel of crude oil it produced and bought with inside the first region of the 2021-22 financial in comparison to USD 28.87 in step with barrel realization in April-June 2020.

Gas fee changed into decrease through 1 / 4 at USD 1.seventy nine in step with million British thermal unit.

The organization produced almost five in step with cent much less crude oil at five. four million tones with inside the region even as herbal fueloline output changed into four. three in step with cent decrease at five. three billion cubic meters.

Of the oil manufacturing, ONGC produced four.6 million tones from fields it operates and any other 0.fifty five million tones from the ones in joint ventures with different partners. Own manufacturing changed into down four.2 in step with cent and joint project output fell 2.eight in step with cent.

ONGC’s very own fuel oline manufacturing changed into down five. three in step with cent at five.1 billion cubic metres even as that of joint project fields changed into up through a 3rd to 0.2 billion cubic metres. Overall the fueloline output changed into down four. three in step with cent at five. three billion cubic metres.

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