ONGC soars 5%, hits fresh 32-month high post Q3 results, high oil prices

In Q3FY22, ONGC's net profit jumped 597 per cent YoY to Rs 8,764 crore, as against Rs 1,258 crore in the corresponding quarter of previous fiscal (Q3FY21).

Shares of Oil & Natural Gas Corporation (ONGC) hit a fresh 32-month high at Rs 176.40, on rallying 5 per cent on the BSE in Monday’s intra-day trade as oil prices hit their highest in more than seven years on fears a possible invasion of Ukraine by Russia.

Meanwhile, the state-owned oil exploration & production company on Saturday reported nearly seven-fold jump in December quarter (Q3FY22) net profit after higher oil and gas prices offset a drop in production.

The stock surpassed its previous high of Rs 174.80 touched on January 31, 2022.  It traded at its highest