Maharatna Company Posts 53% YoY Decline In Q4 Net Profit, Shares Fall

Large cap maharatna company operating in Gas & Petroleum sector, Oil and Natural Gas Corporation (ONGC) on Friday announced 53% YoY fall in its consolidated net profit to Rs 5701 crore for fourth quarter ended March 31, 2023. ONGC had announced a net profit of Rs 12,061 crore in the corresponding quarter of the preceding year. Board of directors of ONGC declared final dividend of Re 0.50 per equity share. ONGC share soared 44% in last 2-years. Check details below:

ONGC Declares Dividend: According to the BSE filing of ONGC, "Recommendation of Final Dividend for the Financial Year 2022-23 at the rate of Re 0.50 per equity share of face value of Rs 5/- each i.e.@10%, subject to approval by the Members of the Company at the ensuing Annual General Meeting."

ONGC Stock Performance & Return: Last trading price of ONGC is Rs 163.60 apiece with intraday fall of 1.62%. ONGC stock 52-week high price is Rs 168.95 apiece and 52-week low price is Rs 119.80 apiece, respectively. The large cap PSU company has a market capitalisation of Rs 2,05,813.37 crore. ONGC share jumped 6% in last 3-months, 16% in last 6-months, 8% in last 1-year, and 113% in last 3-years.

ONGC Q4: Revenue from operations declared at Rs 1.64 lakh crore during the period under consideration for the March quarter, up 5% against Rs 1.55 lakh crore in the corresponding period of the last year. ONGC declared a net loss of Rs 247.7 crore during the March quarter on a standalone basis against a profit of Rs 8,860 crore announced in the same quarter last year. ONGC announced a PAT of Rs 1,700 crore in FY23, as against a PAT of Rs 1,589 crore declared in FY22. ONGC achieved a turnover of Rs 11,676 crore during FY23 against a turnover of Rs 17,322 crore during FY22.

ONGC About: ONGC represents India's energy security through its pioneering efforts. Maharatna ONGC is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production, according to its official website.