ONGC Q1 standalone net drops 8% at Rs 3,885 cr


Oil and Natural Gas Corp, India's top explorer, said on Thursday first-quarter standalone profit fell 8 per cent, below analysts' expectations. Standalone profit from ONGC's operations in India was Rs 3,885 crore ($606.01 million) for the three months ended June 30, down from Rs 4,233 crore a year earlier, the company said.

  Analysts on average expected ONGC to post a standalone profit of Rs 4,325 crore, Thomson Reuters data showed. Revenue from the company's offshore operations rose 4.2 per cent to Rs 13,068.

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