NEW DELHI: India's most sensible explorer Oil and Natural Gas Corp on Thursday posted a lower-than-expected first-quarter standalone benefit, harm through higher expenses.
Profit on a standalone basis, which takes into consideration only the state-run multinational's India operations, rose 58 consistent with cent to Rs 6,144 crore ($894.26 million) for the quarter ended June 30, helped through higher domestic gas costs.
Analysts on reasonable had expected ONGC to put up a standalone benefit of Rs 6,643 crore, according to Thomson Reuters I/B/E/S.
India had raised costs of its in the community produced gas through about 6 consistent with cent for April-September to $3.06 consistent with million British thermal units (mBtu) compared to $2.89/mBtu in the earlier six months.
Revenue from offshore operations rose 38 consistent with cent to Rs 18066 crore in the quarter while general expenses went up 30 consistent with cent to Rs 18,256 crore.
Profit on a standalone basis, which takes into consideration only the state-run multinational's India operations, rose 58 consistent with cent to Rs 6,144 crore ($894.26 million) for the quarter ended June 30, helped through higher domestic gas costs.
Analysts on reasonable had expected ONGC to put up a standalone benefit of Rs 6,643 crore, according to Thomson Reuters I/B/E/S.
India had raised costs of its in the community produced gas through about 6 consistent with cent for April-September to $3.06 consistent with million British thermal units (mBtu) compared to $2.89/mBtu in the earlier six months.
Revenue from offshore operations rose 38 consistent with cent to Rs 18066 crore in the quarter while general expenses went up 30 consistent with cent to Rs 18,256 crore.
ONGC Q1 net profit up 58%, misses estimates
![ONGC Q1 net profit up 58%, misses estimates]()
Reviewed by Kailash
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August 03, 2018
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