New Delhi, Nov 07 : State-owned Oil and Natural Gas Corp. Ltd (ONGC) on Friday reported a 11% drop in its September quarter net profit because of a sharp fall in oil prices.
Net profit in the July-September quarter stood at Rs.4,842.02 crore and was 11% lower than Rs.5,444.89 crore clocked in the same period of last fiscal, the company said in a stock exchange filing. Its total income was marginally higher at Rs.20,679.56 crore in second quarter of the current fiscal year as compared with Rs.20,477.75 crore a year ago. The company also declared an interim dividend of Rs.4.50 per equity share amounting to Rs.3,850 crore.
