ONGC Q1 Results: Standalone Net Profit Jumps 251% YoY To Rs 15,206 Cr

State-owned Oil and Natural Gas Corporation (ONGC) on Friday released its financial numbers for the quarter ended June 30, 2022 and reported a 251 per cent jump in its standalone net profit at Rs 15,205.85 crore. The company had posted a standalone net profit of Rs 4,334.75 crore in the year-ago period.

Its standalone revenue from operations came in at Rs 42,320.72 crore, up 84 per cent for the quarter under review as against Rs 23,021.64 crore in the year-ago quarter.

It registered a 91 percent year-on-year growth in offshore business at Rs 27,990.4 crore and onshore business increased by 72 percent to Rs 14,330.3 crore in the quarter ended June FY23.

ONGC's operating margin improved to 49.57 per cent during the June quarter against 32.01 per cent in Q1 of FY22.

On Friday, the company's shares on the NSE closed 5.05 per cent higher at Rs 139.50.