India's ONGC shares gain after profit beats estimates
MUMBAI Feb 12 (Reuters) - Shares in India's state-run Oil and Natural Gas Corp gained 1.5 percent in pre-open trade on Tuesday, a day after its October-December net profit beat market expectations, helped by higher selling prices for oil and gas and slightly lower subsidy payouts to refineries.
ONGC posted net profit of 55.63 billion rupees ($1.04 billion) for December quarter and its sales rose 16 percent to 209.87 billion rupees. Analysts expected net profit of 53.7 billion rupees, according to Thomson Reuters StarMine data. (Reporting by Manoj Dharra; Editing by Jijo Jacob)
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
Trending On Reuters
Barack Obama in India
The United States and India have broken an impasse standing in the way of civil nuclear trade, Indian TV channels reported on Sunday as U.S. President Barack Obama and Indian Prime Minister Narendra met in New Delhi for talks. Full Article
Indian economic growth forecasts pegged back, despite rate cuts: Reuters Poll. Full Article