Mumbai: State-owned ONGC reported a 17% rise in standalone net profit for the quarter ending September 2024, reaching Rs 11,984 crore compared to Rs 10,238 crore a year earlier, media reports said.
Revenue from operations for the period decreased by 4% year-on-year to Rs 33,881 crore, down from Rs 35,163 crore in the same quarter of the previous year, The Economic Times reported.
ONGC's board has announced a first interim dividend of Rs 6 per share with a face value of Rs 5 for the fiscal year 2024-25, setting November 20 as the record date to determine eligible shareholders for the dividend.
The company reported EBITDA of Rs 18,236 crore in the September 2024 quarter, with margins recorded at 53.8%.
By segment, revenue from ONGC’s offshore operations fell to Rs 23,004 crore, compared to Rs 23,468 crore in the corresponding quarter last year.
Onshore revenue also declined, reaching Rs 10,871 crore in the July-September 2024 period, down from Rs 11,694 crore in the same quarter the prior year.
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