ONGC Videsh reports 71 per cent jump in net profit for 2018-19 at Rs 1,682 crore


ONGC Videsh reports 71 per cent jump in net profit for 2018-19 at Rs 1,682 crore

ONGC Videsh Ltd (OVL), the overseas subsidiary of state-run petroleum explorer Oil and Natural Gas Corporation (ONGC), today reported a 71 per cent jump in consolidated net profit for the financial year ended March 2019 at Rs 1,682 crore.

The firm had posted a net profit of Rs 981 crore in the previous fiscal (2017-18). The company’s total income from operations in the last financial year also rose 40 per cent to Rs 14,632 crore from Rs 10,418 crore in 2017-18.

OVL also informed its total crude oil production last financial year jumped 8 per cent to 10.09 million tonne as compared to 9.35 MT in the previous fiscal. However, the company’s natural gas production dropped 1.6 per cent to 4.73 billion cubic meter (bcm) from 4.81 bcm in 2017-18. Read More

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