ONGC shares tank 4% after first-ever quarterly loss

Credit/Reuters Photo

Shares of state-owned Oil and Natural Gas Corp (ONGC) declined nearly 4 per cent on Wednesday after the company reported its first-ever quarterly loss.

On the BSE, the stock dipped 3.93 per cent to Rs 78.20.

It declined 3.74 per cent to Rs 78.30 on the NSE.

India's top oil and gas producer ONGC on Tuesday reported a Rs 3,098 crore loss in the January-March quarter as compared to a profit of Rs 4,240 crore in the same period a year back.

Revenue in the fourth quarter fell to Rs 21,456 crore from Rs 26,759 crore a year ago.

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