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ONGC Q1 profit slumps 24% YoY to Rs 7,043 crore on higher expenditure

Aug 14, 2019 - The Economic Times

Oil and Natural Gas Corporation (ONGC) on Tuesday posted 24.40 per cent year-on-year (YoY) fall in consolidated net profit at Rs 7,042.69 crore for the quarter ended June 30. The oil major had reported a profit of Rs 9,317.66 crore in the corresponding quarter last year. Consolidated revenue from operations inched lower by 0.91 per cent to Rs 1.09 lakh crore in Q1FY20 over Rs 1.10 lakh crore in Q1FY19.Expenditure of the company increased to Rs 99,995.21 crore for the quarter ended June 30 from R...