Home / Companies / News / ONGC posts loss of Rs 10,529 cr in Q4 over falling crude prices, lockdown

ONGC posts loss of Rs 10,529 cr in Q4 over falling crude prices, lockdown

The company's revenue from operations declined by 7 per cent to Rs 104,489 crore for the period under review, compared to Rs 112,539 crore in Q4FY19.

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The combined impact of reduced demand, Covid, reduced offtake and lower crude prices had an impact on our numbers to the tune of Rs 4,900 crore,

Shine Jacob New Delhi

3 min read Last Updated : Jul 01 2020 | 2:58 AM IST

State-run Oil and Natural Gas Corporation (ONGC) reported a pre-tax loss of Rs 10,529 crore in the fourth quarter of the financial year 2019-20 (Q4FY20) because of a drop in crude oil prices, the impact of the lockdown, and exchange losses.

This is ONGC’s first ever quarterly loss. It earned a profit before tax (PBT) of Rs 11,691 crore in the corresponding period of FY19. The company’s revenue from operations declined by 7 per cent to Rs 104,489 crore in the period under review, compared to Rs 112,539 crore the previous year. “This is one of the first times in recent

Topics : Coronavirus Lockdown ONGC Oil and Natural Gas Corporation Q4 Results Q4 earnings pre-tax profit Crude Oil Price

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