ONGC Videsh Q1 profit jumps 72%

ONGC Videsh, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), on Sunday reported a 72 per cent jump in its net profit in the June quarter on the back of higher crude oil and natural gas output.

Net profit in April-June quarter rose by 71.9 per cent to Rs 837 crore from Rs 487 crore in the same period a year ago, the company said.

Crude oil production rose 15.7 per cent to 1.335 million tons in Q1 while natural gas output rose 18.7 per cent to 0.807 billion cubic meters.

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