India: ONGC Profit Slides

India’s Oil & Natural Gas Corporation Ltd (ONGC) has released its quarterly results for period ended December 31, 2011.

The Company has posted a net profit of Rs. 67414.10 million for the quarter ended December 31, 2011 as compared to Rs. 70832.30 million for the quarter ended December 31, 2010.

Total Income has decreased from Rs. 214734.10 million for the quarter ended December 31, 2010 to Rs. 194753.00 million for the quarter ended December 31, 2011.

1 Indian rupee = 0.020389 U.S. dollars

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LNG World News Staff, February 8, 2012; Image: ONGC