ONGC Videsh powers H1 profit by 14.37%
13 Nov 2013 5:46 AM IST
ONGC Videsh Ltd (OVL), the wholly owned subsidiary for foreign operations of national exploration and production company Oil and Natural Gas Corporation (ONGC) continued to stun the international energy fraternity with a spectacular performance, both in terms of production as well as financial parameters, for the first half (April-September) of fiscal 2013-14.
According to the results which were approved by the Board at its meeting on Tuesday, the company earned a profit of Rs 1,886 crore during the six-month period, which marks an increase of 14.37 per cent over the figure for the corresponding period of the previous financial year (2012-13).
In a demonstration of all-round excellence that can serve as a model for India Inc, OVL raised crude oil production to 2.707 mmt from 2.276 mmt in the corresponding period of the previous financial year, implying a rise of 18.94 per cent, and natural gas output to 1.410 bcm from 1.212 bcm, which is a rise of 16.34 per cent.
According to the results which were approved by the Board at its meeting on Tuesday, the company earned a profit of Rs 1,886 crore during the six-month period, which marks an increase of 14.37 per cent over the figure for the corresponding period of the previous financial year (2012-13).
In a demonstration of all-round excellence that can serve as a model for India Inc, OVL raised crude oil production to 2.707 mmt from 2.276 mmt in the corresponding period of the previous financial year, implying a rise of 18.94 per cent, and natural gas output to 1.410 bcm from 1.212 bcm, which is a rise of 16.34 per cent.
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