India's ONGC records 10% rise in operating profit

25 June 2007 12:33  [Source: ICIS news]

MUMBAI (ICIS news)--India’s Oil and Natural Gas Corporation (ONGC) said on Monday that operating profit rose 10.1% to Indian rupees (Rs) 327.1bn ($8.1bn) for the financial year ended 31 March 2007 from a year ago.

 

ONGC’s year-on-year net sales rose 18.1% to Rs566.3bn, while its profit after tax (PAT) rose 10% to Rs151.6bn.

 

However, the company’s operating profit for the fourth quarter (Q4) ended 31 March dropped 31.4% to Rs65.9bn from the corresponding period last year.

 

ONGC’s fourth-quarter net sales fell 20.3% to Rs123.9bn, while its PAT plunged 52.7% to Rs22bn from a year ago.

 

($1 = Rs40.59)

 

By: Divya Chowdhury
+65 6780 4359

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