The state-run oil major's consolidated net profit surged 334.12% to Rs 10,931.61 crore on 45.27% rise in net sales to Rs 145,685.58 crore in Q3 December 2021 over Q3 December 2020.
On a consolidated basis, profit before tax rose 166.58% year-on-year to Rs 16,011.10 crore. During the quarter, total expenses rose 37.08% YoY to Rs 132503.91 crore. Raw material cost increased 93.05% YoY to Rs 31797.55 crore.On a standalone basis, ONGC's net profit surged 596.57% to Rs 8,763.72 crore on 67.25% rise in net sales to Rs 28,472.91 crore in Q3 December 2021 over Q3 December 2020. Other income rose 22.4% to Rs 1,491.6 crore.
The result was mainly driven by higher crude and gas prices.
The board has declared 2nd interim dividend of Rs 1.75 per equity share for the Financial year 2021-2022.
ONGC is India's largest integrated oil and gas company. ONGC is 60.41% owned by the Government of India.
Shares of ONGC fell 0.56% to Rs 168.25 on Friday, 11 February 2022.
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