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Oil and Natural Gas Corp (ONGC) has reported a dip in its net profit for the fourth consecutive quarter, declining 27% to Rs.4,847.92 crore for the quarter ending June 30 owing to lower oil prices.
ONGC had logged a revenue of Rs.6,636.33 crore (in the corresponding quarter the previous fiscal.
The company's total income decreased 24.53 percent to Rs.15,924.08 crore (Rs.159.24 billion) during the period under review from Rs.21,102.22 crore (Rs.211.02 billion) in the corresponding period the previous fiscal, it said in a statement to the Bombay Stock Exchange (BSE).
Earnings were announced after the stock markets closed for the day.
The ONGC scrip ended flat at Rs.1,092.85 after opening at Rs.1,080.
