ONGC reports 6 percent fall in fourth-quarter net profit | Reuters
MUMBAI Oil and Natural Gas Corporation Ltd (ONGC.NS), India's biggest hydrocarbon explorer, reported a 6 percent fall in fourth-quarter net profit to 43.40 billion rupees ($673 million) hurt by a one-time provision. Analysts on average had expected a profit of 49.91 billion rupees.
MUMBAI Oil and Natural Gas Corporation Ltd (ONGC.NS), India's biggest hydrocarbon explorer, reported a 6 percent fall in fourth-quarter net profit to 43.40 billion rupees ($673 million) hurt by a one-time provision.
Analysts on average had expected a profit of 49.91 billion rupees.
Total income of 262.34 billion rupees was up almost 30 percent on higher crude oil prices.
($1 = 64.4750 Indian rupees) (Reporting by Promit Mukherjee; editing by Jason Neely)
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