The oil and pure gasoline firm’s consolidated internet revenue rose 142.4% to Rs 16,553 crore in Q2FY24, up from the identical quarter of the earlier 12 months. On a sequential foundation, revenue declined by 4.77 per cent, down from internet revenue of Rs 17,383 crore.
The corporate noticed its whole income decline by 12.9 per cent to Rs 1.46 trillion, down from Rs 1.68 trillion recorded in Q2 FY23. ONGC, India’s largest oil producer, produces greater than 1.26 million barrels of oil equal per day, It contributes about 71 p.c.
From native manufacturing in India.
ONGC Videsh Ltd. (OVL), wholly owned by ONGC, is India’s largest multinational firm, with 35 oil and gasoline belongings in 15 international locations.
ONGC’s whole crude oil manufacturing fell by 2.1 per cent to five,249 million metric tons (MMT) from 5,360 MMT in Q2FY23. Furthermore, ONGC’s pure gasoline manufacturing fell by 2.8 per cent to five.2 BMT cubic meters within the final quarter from 5.352 billion cubic meters throughout the identical interval final 12 months.
The corporate mentioned the decline in manufacturing output may be primarily attributed to declines in some mature fields and marginal fields. To deal with this decline, ONGC is taking proactive steps by implementing nicely interventions and enhancing drilling of latest wells
Actions inside these areas.
First revealed: November 10, 2023 | 11:31 pm he
(tags for translation)ongc