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ONGC reports 11.9% rise in Q1 net profit

29 Jul 2011 Evaluate

Oil & Natural Gas Corporation reported results for the Quarter ended June 30, 2011.

The company’s net profit rose by 11.9% to Rs 4,094.90 crore, for the quarter ended June 30, 2011 against Rs 3661.14 crore for the same quarter last year. The total income has increased from Rs 14230.22 crore for the quarter ended June 30, 2010 to Rs 17128.89 crore for the quarter under review up by 20.37%.

Company’s crude oil production dropped 2% to 5.933 million tonne and after including joint venture projects did its output show a 2.3% rise to 6.758 million tonne. Natural gas dropped 2.7% to 5.603 billion cubic meters.

Peers
Company Name CMP
ONGC 225.50
Oil India 444.40
Jindal Drilling&Inds 585.60
Deep Industries 745.85
Asian Energy Service 458.45
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