New Delhi: State-owned ONGC Friday reported a over two-fold jump of its net profit at Rs 7,083 crore for the quarter ended December 31, 2010 as it got a onetime settlement charge on natural gas dues.
During the same period a year ago the company's had registered a net profit of Rs 3,054 crore, ONGC Chairman RS Sharma told reporters here.
ONGC in the quarter received Rs 1,900 crore from the gas bill accounts on past dues.
Besides, the profit was higher as the company's net realisation on crude sale was up 12.3 percent to USD 64.79 per barrel.
The company also received more than double price for the natural gas produces at USD 4.2 per million British thermal unit.