ONGC’s Q3 profit hit by crude oil price fall, but future brightens with gas output push
Oil & Natural Gas Corp. Ltd (ONGC) posted rather muted December quarter (Q3) results, impacted by the continued drop in crude oil prices and stagnant volumes. Higher gas realization, though, brought some comfort. Standalone EBITDA declined by 9% year-on-year to ₹17,300 crore, while revenue fell 6% to ₹31,500 crores. Consolidated revenue was flat at ₹1.67…