For the full 2017-18 fiscal, ONGC’s net profit was up 11.4% at Rs19,945 crore. Photo: ReutersNew Delhi: Shares of State-owned Oil and Natural Gas Corp. Ltd (ONGC) gained 2% on Thursday after the company reported its highest profit in 17 quarters on back of higher oil prices. Fourth-quarter net profit jumped 37% to Rs5,915.12 crore compared to a profit of Rs4,340.18 crore in the same period last year, the company said in a statement on Wednesday. ONGC’s oil production declined 3% at 6.2 million tonnes in the quarter. For the full 2017-18 fiscal, net profit was up 11.4% at Rs19,945 crore.

Source: Mint May 31, 2018 07:38 UTC