Reuters logo
India's ONGC reports 12 pct rise in Q4 profit, beating estimates
May 26, 2016 / 10:31 AM / a year ago

India's ONGC reports 12 pct rise in Q4 profit, beating estimates

NEW DELHI/MUMBAI, May 26 (Reuters) - Oil and Natural Gas Corp, India’s biggest oil explorer, reported on Thursday a surprise 12 percent rise in fourth-quarter net profit, helped by a one-off gain.

Net profit on a standalone basis was 44.16 billion rupees ($657.5 million) for the three months to March 31, compared with 39.35 billion rupees a year earlier, the state-run company said in a regulatory filing.

Analysts on average had expected a net profit of 28.17 billion rupees, according to data compiled by Thomson Reuters.

ONGC said it partly reversed a previously-taken charge, leading to a one-off gain of 8.52 billion rupees in the fourth quarter. ($1 = 67.1600 Indian rupees) (Reporting by Sankalp Phartiyal and Promit Mukherjee; Editing by Sunil Nair)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below