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ONGC net profit dips 16% during Q4

June 24, 2009

Oil & Natural Gas Corporation (ONGC) has announced its results for the quarter & year ended March 31, 2009.

The company has posted a net profit of Rs 2,206.76 crore for the quarter ended March 31, 2009 against Rs 2,627.10 crore for the quarter ended March 31, 2008, down 16%. The total income for the quarter has decreased to Rs 15,113.13 crore from Rs 17,659.78 crore reported in corresponding quarter of the last fiscal, registering a 14.42% fall.

For the entire fiscal the state-run company has posted a net profit of Rs 16,126.31 crore against Rs 16,701.65 crore in the previous fiscal, down 3.44%. The total income for the fiscal has showed a moderate growth of 6.20% to Rs 68,769.29 crore from Rs 64,752.24 crore reported in FY08.

On a consolidated basis, the Group’s net profit has dipped marginally to Rs 19,795.34 crore for the year ended March 31, 2009 against Rs 19,872.26 crore for the year ended March 31, 2008. The total income of the group has increased to Rs 109,615.60 crore from Rs 101,336.49 crore, registering a Year-on-Year (YoY) growth of 8.16%.

The board of the company has recommended a final dividend of Rs 14 per share for the financial year 2008-09, subject to shareholders approval.

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