ONGC's profit rises 57% to ₹15,489 crore as oil prices lift realisations

ONGC reported a standalone net profit of ₹15,489 crore for July to September, up 57.3% from ₹9,848 crore a year earlier. It was 9.1% lower than in the June quarter.

Revenue from operations rose 32.8% to ₹43,875 crore. Consolidated profit, which includes refiners HPCL and MRPL, was ₹18,535 crore.

Higher prices, lower output

ONGC realised $92.33 a barrel on crude from its nominated fields, up from $67.34 a year earlier.

Output kept slipping. Crude production fell 4.2% to 4.44 million tonnes and gas output 1.6% to 4.84 billion cubic metres.

The board declared an interim dividend of ₹8 a share, a payout of ₹10,064 crore. The record date is November 12.