tate-owned Oil and Natural Gas Corporation (ONGC) on Friday reported a 16.7 per cent drop in its third-quarter net profit as it realised lower rates for crude oil it produces.
Standalone net profit was at Rs 8,240 crore in October-December 2024 - the third quarter of April 2024 to March 2025 financial year - compared with Rs 9,892 crore in the same period a year back, according to a company statement.
The firm realised USD 72.57 per barrel for crude oil from below ground and seabed it produced and sold to refiners for turning into fuels like petrol and diesel. This compared with a realisation of USD 81.13 per barrel in October-December 2023.
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