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ONGC slips up to 4% after reporting a first-ever loss in March quarter

ONGC had logged a profit before tax (PBT) of Rs 11,691 crore in the corresponding period of FY19.

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During the quarter under review, the company’s net realisation on crude was seen $49.01 a barrel, as against $61.93 a barrel a year ago.

SI Reporter New Delhi

3 min read Last Updated : Jul 01 2020 | 11:15 AM IST

Shares of Oil and Natural Gas Corporation (ONGC) slipped as much as 3.93 per cent to Rs 78.20 apiece on the BSE on Wednesday, a day after the state-run oil and gas company posted a pre-tax loss of Rs 10,529 crore in the fourth quarter of the financial year 2019-20 (Q4FY20). The loss was due to a drop in crude oil prices, the impact of the Covid-19-induced lockdown, and exchange losses. It was ONGC’s first-ever quarterly loss.

At 09:29 am, the stock was trading 1.6 per cent lower at Rs 80.10 on the BSE. In comparison, the S&P BSE Sensex

Topics : ONGC results ONGC Buzzing stocks Markets Sensex Nifty India Inc Q4 COVID-19

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