scorecardresearchONGC profit drops 30% to ₹12,826 crore as govt levies windfall tax; shares up nearly 3%

ONGC profit drops 30% to 12,826 crore as govt levies windfall tax; shares up nearly 3%

Updated: 15 Nov 2022, 09:55 AM IST
TL;DR.
ONGC's oil and gas production dropped 2 per cent in second quarter of current fiscal year. Oil production of 5.36 million tonne in July-September is compared with 5.47 million tonne output a year back. Similarly, gas production of 5.35 billion cubic meters in Q2 is compared with 5.46 bcm output in July-September 2021.
ONGC has not received any tangible financial support recently given its strong standalone credit profile, Fitch said. (Oil & Natural Gas Corp. via Bloomberg News)

ONGC has not received any tangible financial support recently given its strong standalone credit profile, Fitch said. (Oil & Natural Gas Corp. via Bloomberg News)