ONGC | Q3FY22 Mumbai/IBNS: State-run oil exploration and production company ONGC Friday reported a consolidated profit after tax (PAT) of Rs 11,637 crore for the Q3FY22, up 220 percent from the profit of Rs 3,637 crore reported in the same quarter previous year.
On sequential basis, PAT dipped 38 percent from Rs 18,749 crore in the previous quarter.
The company said it had received a deferred and current tax credit of Rs 9,320 crore in the preceding quarter of current fiscal.
Adjusting for the tax credit, the profit for the reported quarter has increased by 23 percent on a sequential basis.
Consolidated revenue for Q3FY22 stood at Rs 1.46 lakh crore, up by 45 percent compared to Rs 1.00 lakh crore in the same quarter a year-ago.
In the preceding quarter, consolidated revenues stood at Rs 1.22 lakh crore.
Revenue from exploration and production (E&P) business Rs 28,408 crore for the quarter at a YoY growth of 67.3 percent and a sequential growth of 17 percent.
EBIT (earnings before interest and tax) for the E&P business jumped by 275 percent on year and by 26.5 percent QoQ to Rs 11,379 crore.
Revenues from outside India businesses improved by apprximately 50 percent to Rs 4,520 crore compared to Rs 3,018 crore reported in the same period a year ago. Compared to the previous quarter, there is a growth of 3 percent from Rs 4,386 crore.
For the overseas business, EBIT grew by 118 percent year on year and by 7.5 percent on quarter to Rs 1,680 crore.
Consequent to the higher crude and gas prices, the raw material costs shot up for the company during the quarter.
The company has declared 2nd interim dividend of Rs 1.75 per equity share of face value of Rs 5 each i.e. 35 percent, for the Financial year 2021-2022.
February 22 is the record date for determining eligibility of shareholders for payment of the interim dividend.
The dividend will be paid to the eligible shareholders on or before March 12.
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