ONGC Q4 net falls 6 per cent to ₹4340 cr

(ONGC) on Friday reported a 6.1 per cent fall in net profit for the fourth quarter ended March at Rs 4,340 crore, as compared to the PAT of Rs 4,624.30 crore for the same period of 2016. A poll of analysts conducted by CNBC-TV18 had pegged this at Rs 1,050 crore.

HPCL, which had issued bonus shares in the ratio of 2:1 on September 14, 2016, today again announced a bonus issue of one equity share of Rs 10 each for every two equity shares held. He said HPCL posted its highest ever net profit of Rs 6,208.80 crore in 2016-17, up 67 per cent from Rs 3,726.16 crore previous year.

ONGC's total income for the quarter in consideration, however, increased an impressive 29.24 per cent at Rs 26,233.56 crore on account of better revenue from operations, as compared to Rs 20,297.33 crore earned in the corresponding quarter of 2015-16.

For the year 2016-17, HPCL has proposed a final dividend of Rs. 1.10 per share.

The company made an inventory gain of Rs 743 crore in the fourth quarter of 2016-17 compared with Rs 37 crore gain made in the same period of the previous financial year. For the entire FY17, consolidated net profit rose by 76.175 yoy to Rs 8,235.82 crore, while total income were at Rs 2,15,673.04 crore up 8.35% qoq.

ONGCshares were up 0.95% at Rs 175.80 in a firm Mumbai market whose benchmark Sensex was up 0.9% to hit a record 31,028.21.

Average gross refining margins (GRM) during the year ended March 2017, were at $ 6.20 per barrel as against 6.68 per barrel of FY16.

  • Zachary Reyes