Oil and Natural Gas Corp , India's biggest oil explorer, reported on Thursday (26 May) a surprise 12 per cent rise in fourth-quarter net profit, helped by a one-off gain.
Net profit on a standalone basis was Rs 4,416 crore ($657.5 million) for the three months to March 31, compared with Rs 3,935 crore a year earlier, the state-run company said in a regulatory filing.
Analysts on average had expected a net profit of Rs 2,817 crore, according to data compiled by Thomson Reuters.
ONGC said it partly reversed a previously-taken charge, leading to a one-off gain of Rs 852 crore in the fourth quarter.
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