ONGC Q2 Profit Jumps 57 Percent on Crude Prices
India Oil and Natural Gas Corp posted a 57.3 percent increase in second-quarter profit driven by higher global crude oil prices and increased realisations. Revenue from operations rose 32.8 percent to 438.75 billion rupees during the quarter ended September 30.
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OIL & NATURAL GAS CORP LTD posted a 57.3% jump in standalone second-quarter profit on Thursday, reaching 154.89 billion rupees ($1.64 billion). The state-backed explorer benefited from elevated crude realisations during the quarter ended September 30. India's dominant upstream producer surpassed year-ago earnings of 98.48 billion rupees.
