ONGC records 7-fold jump in Q3 profit results

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Similarly, gross revenues rose 67.3 per cent to Rs 28,474 crore against Rs 17,024 crore in Q3FY21…reports Asian Lite News


Diversified energy major ONGC on Saturday reported a rise of 596.7 per cent in its standalone net profit for the quarter ended December 31, 2021.

Accordingly, the standalone Q3 net profit rose to Rs 8,764 crore against Rs 1,258 crore reported during the corresponding period of previous fiscal.

Similarly, gross revenues rose 67.3 per cent to Rs 28,474 crore against Rs 17,024 crore in Q3FY21.

On a consolidated basis, the company reported a rise of 220 per cent in its Q3FY22 net profit to Rs 11,637 crore from Rs 3,637 crore on a YoY basis.

The company reported that its consolidated net profit attributable to owners was up 334.2 per cent to Rs 10,932 crore from Rs 2,518 crore reported for the corresponding period of the previous year.

According to the company, its Board has approved second interim dividend of 35 per cent i.e. Rs 1.75 on each equity share of Rs 5.

“The total payout on this account will be Rs 2,201.55 crore. The Record date for distribution of dividend has been fixed for 22nd February, 2022 which has been intimated to the stock exchanges,” the company said in a statement.

“This is in addition to first interim dividend of Rs 5.50 per share(110 per cent) declared earlier in Nov 2021.”

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