India's ONGC third-quarter profit beats estimate

  • Reuters
  • Stock Market News
India's ONGC third-quarter profit beats estimate
Credit: © Reuters.

Feb 14 (Reuters) - India's Oil and Natural Gas Corp ONGC.NS on Thursday posted a 64.8 percent jump in third-quarter profit, handily beating analysts estimates, boosted by higher revenue from offshore operations.

ONGC's profit stood at 82.63 billion rupees ($1.16 billion) in the quarter ended Dec. 31, compared with 50.15 billion rupees a year earlier, the oil and gas explorer said in a stock exchange filing

Analysts on average had expected a profit of 73.71 billion rupees, according to Refinitiv data.

Revenue from operations climbed over 20 percent to 276.94 billion rupees, while revenue from offshore operations rose 19.1 percent, ONGC said. ($1 = 71.1580 Indian rupees)

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  • arun kumar @arun kumar
    today traget
    Like 0
  • Lovish Malhotra @Lovish Malhotra
    i think the stock price will rise soon!
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