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Oil & Natural Gas Corporation reports 40% fall in Q4 net profit

30 May 2013 Evaluate

Oil & Natural Gas Corporation reported results for the fourth quarter and year ended March 31, 2013.

The company has reported a fall of 39.96% in its net profit at Rs 3388.71 crore in Q4FY13 as compared to net profit of Rs 5644.38 crore in the same quarter previous year. However, total income from operation of the company has increased by 12.87% to Rs 21829.86 crore as compared to Rs 19339.94 crore in corresponding quarter last year.

For the year ended March 31, 2013, the company has registered 16.71% fall in its net profit at Rs 20925.70 crore in FY13 as against Rs 25122.92 crore in previous years. However, total income from operation of the company has increased to Rs 82985.94 crore as compared to Rs 76616.39 crore in FY12, up by 8.31%.

On consolidated basis, for the full year ended March 31, 2013, the company has posted a 13.94% fall in its net profit after taxes, Minority Interest and share of Profit / (Loss) of Associates at Rs 24219.64 crore under year under review as compared to Rs 28143.61 crore in FY12. However, total income has increased by 10.25% at Rs 162386.33 crore for year under review as compared to Rs 147286.25 crore for the period ended March 31, 2012.

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