ONGC Q2 net up 6 per cent


The profits were lower by Rs 1,491 crore as it was asked by the government to pay Rs 2,630 crore fuel subsidy by way of discounts on crude oil it sells to state-run refiners. The subsidy pay-out, however, was lower than Rs 12,663 crore pay out in the same period last fiscal.

The company’s sales, however, fell to Rs 15,080.59 crore from Rs 17,407.40 crore on a dip in oil production and its prices, ONGC said in a filing.

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