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.