ONGC Q3 Results: The company's performance was hit by crude oil prices amid COVID-19 pandemic
State-owned Oil and Natural Gas Corporation (ONGC) posted a 67.4 per cent year-on-year decline in standalone profit to Rs 1,378 crore in the third quarter of the current financial year. The standalone net profit stood at Rs 4,226 crore in the year-ago period. According to the company's regulatory filing to BSE, the company's standalone revenue from operations slipped 28 per cent in the third quarter to Rs 17,023.80 crore, compared to Rs 23,710.05 crore in the year-ago period. The company's quarterly performance was impacted by crude oil and natural gas prices due to the COVID-19 pandemic, as well as volatile global crude oil and natural gas markets.