Income for the July-September quarter fell 3.6% to Rs 33,881 crore on decrease oil costs.
The corporate realised a mean oil value of $78.33 per barrel from nominated fields through the second quarter, 7.7% decrease than $84.84 through the year-ago interval.
The typical realisation from the three way partnership fields was $77.91, down 1.9% from a yr earlier. Pure gasoline value remained unchanged at $6.5 per mmBtu.
The corporate has declared a dividend of Rs 6 per share and stuck November 20 because the report date for its distribution.
The levies on its output fell 27% to Rs 7,829 crore within the second quarter from Rs 10,791 crore within the year-earlier interval as the autumn in crude oil value diminished the windfall tax burden.ONGC’s crude oil manufacturing clocked a 0.7% year-on-year rise within the second quarter. The gasoline manufacturing, nonetheless, declined 2.1%.ONGC has made a discovery within the ultra-deepwater space of Cauvery offshore, the corporate mentioned in an announcement.
Forward of the earnings announcement, shares in ONGC closed 2% decrease on BSE at Rs 256.90 apiece on Monday when the benchmark Sensex ended practically unchanged. ONGC shares have misplaced 1 / 4 in three months as rising international provide cloud glut prospects for oil producers.
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