(Reuters) - India’s top explorer Oil and Natural Gas Corp posted a 36 percent rise in fourth-quarter profit on Wednesday, but missed analysts’ expectations.
Standalone profit, which does not include the financials of some of its units, rose to 59.15 billion rupees ($876.49 million) for the quarter ended March 31, from 43.40 billion rupees a year earlier, the company said.
On average, analysts had expected the company to post a profit of 63.70 billion rupees, Thomson Reuters data showed.
Revenue from ONGC’s offshore operations rose about 7 percent to 160.78 billion rupees.
($1 = 67.4850 Indian rupees)
Reporting by Jessica Kuruthukulangara and Aby Jose Koilparambil in Bengaluru; Editing by Shounak Dasgupta