ONGC quarterly net profit rises 11.85 percent

July 28th, 2011 - 9:29 pm ICT by IANS  

Mumbai, July 28 (IANS) The state-owned Oil and Natural Gas Corporation (ONGC) Thursday posted an increase of 11.85 percent in net profit at Rs.4,094.9 crore for the quarter ended June 30 as against Rs.3,661 crore during the like period of the previous financial year.

The net sales stood at Rs.16,268 crore, up 18.65 percent during the quarter under review as compared to Rs.13,710 crore during the like period of the previous financial year, the company said in a regulatory filing.

The company also saw a gross realization of $121.29 per barrel as against $80.8 per barrel year on year while the net realization of the company stood at $48.76 per barrel as against $48.04 per barrel year on year.

ONGC also said that it has notified two new discoveries, one each in Assam and Assam Arakan Basin and Western Onshore Basin.

At the Bombay Stock Exchange the shares of the company closed 0.09 percent up at Rs.276.65.

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