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ONGC reports Rs 3,098-crore loss in fourth quarter


ONGC’s realisation from crude oil from its nominated fields fell 20.9% to $49 per barrel during the March quarter, compared with the year-ago period.

Revenue from operations was down 19.8% to Rs 21,456.2 crore in the quarter.

ONGC reported a loss of Rs 3,098.3 crore on a standalone basis for the quarter ended March 31, against a profit of Rs 4,239.5 crore recorded in the same period a year ago. The state-run oil and gas-producing company attributed the loss to the impairment loss of Rs 4,899 crore recognised in the ...


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