INDIAN ONGC UP 197%
NGW - Indian ONGC reported profit of rupees 43.52bn ($0.65bn) in 3Q of fiscal 2016-17 as against rupees 14.66bn in the corresponding quarter of last year, a rise of 197%, the company said last week citing higher gross oil realisation as the primary reason.
Gross revenue for the 3Q jumped 9% from a year ago to rupees 200.14bn. For the quarter, while total crude oil output contracted 1.9% to 6.4 million mt from a year ago, net realisation rose 16.8% to $51.8/b.
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