Oil and Natural Gas Corporation (ONGC) has reported results for third quarter ended December 31, 2016.
The company has reported around threefold jump in its net profit at Rs 4352.33 crore for the quarter under review as compared to Rs 1465.88 crore for the same quarter in the previous year. Total income of the company increased by 8.53% at Rs 20906.46 crore for the quarter under review as compared Rs 19263.64 crore for the corresponding quarter previous year.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India with current market capitalization of about $31 billion.