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Oil & Natural Gas Corp. 1Q Net Profit Down 3.8%

By P.R. Venkat

 

Oil & Natural Gas Corp. Ltd. (500312.BY) said its first-quarter net profit fell 3.8% on year due to lower realization from crude oil sales and decline in contributions from its joint ventures.

Net profit for the quarter ended June was 59.04 billion rupees ($833.6 million), ONGC said late Tuesday.

Revenue fell 2.4% on year to INR265.56 billion.

 

Write to P.R. Venkat at venkat.pr@wsj.com

 

(END) Dow Jones Newswires

August 13, 2019 21:26 ET (01:26 GMT)

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