New Delhi: The country`s largest oil and gas
producer, Oil and Natural Gas Corporation, today reported a
23.4 per cent jump in net profit to Rs 3,053.58 crore in the
third quarter ended December 31, 2009.
Net profit in October-December quarter at Rs 3,053.58
crore was 23.38 per cent more than Rs 2,474.81 crore in the
same period a year ago, ONGC said in a statement.
The profit surge was mainly because it realised higher
price for oil it produces and paid less fuel subsidy.
Turnover was up 23.6 per cent to Rs 15,506.14 crore in
the third quarter of current fiscal.