ONGC

Q3FY21 net profit declines 67%

pays interim dividend

of 35 %

ONGC pays 35% interim dividend
Highlights
Netprofit
Standalone profit
The company's board
Record date
The board
The company
The company announed
ONGC pays 35% interim dividend Tufte CSS

Standalone revenue from operations declines 28 % to Rs 17,023.80 crore

Thesynergyonline Corporate Bureau

NEW DELHI,FEBRUARY 13: State-owned oil major Oil and Natural Gas Corporation (ONGC) registered 67.4 per cent year-on-year (y-o-y) fall in standalone profit to Rs 1,378 crore in the third quarter of the fiscal 2020-21(Q3FY21) The company's standalone net profit stood at Rs 4,226 crore in the previous yea r .

COVID-19 pandemic hit company's quarterly performance .

The company's standalone revenue from operations declined 28 per cent in the third quarter(Q3FY21) to Rs 17,023.80 crore as compared to Rs 23,710.05 crore in the previos year.

ONGC pays 35% interim dividend

The board of oil major approved an interim dividend of 35 per cent, or Rs 1.75 on each equity share of ₹ 5. The total payout on the account works out to Rs 2,201.55 crore. the record date for the distribution of dividend has been fixed for February 20, 2021.

ONGC statement issued on Saturday

The board also approved ONGC's acquisition of a five per cent equity stake in the Indian Gas Exchange, the country's first and only gas exchange.

The company realised $43.9 on every barrel of crude oil it produced and sold in the third quarter of the current fiscal, down from $58.24 a barrel it had realised in the same period a year back

The turnover was down 28 per cent at ₹17,024 crore

The company also announced total 8 discoveries (3 in onland, 5 in offshore) during FY 2020-21 in its operated acreages. Out of these, 4 are prospects (1 in onland, 3 in offshore) and 4 are pools (2 in onland, 2 in offshore). This new prospect discovery will add to the existing reserve base of the area and will be taken up for early monetization due to its proximity to the existing Mukta field.

The company's net profit declined 67 per cent to Rs 1,378 crore In the third quarted ended December Quarter

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