Profit statements

ONGC standalone net income in Q3FY22 up 596.7%

New Delhi, February 12 (IANS): Diversified energy giant ONGC on Saturday announced a 596.7% increase in its standalone net profit for the quarter ended December 31, 2021.

As a result, third quarter standalone net profit increased to Rs 8,764 crore from Rs 1,258 crore reported in the corresponding period of the previous fiscal year.

Similarly, gross revenue increased by 67.3% to Rs 28,474 crore from Rs 17,024 crore in Q3FY21.

On a consolidated basis, the company recorded a 220% increase in net profit in Q3FY22 to Rs 11,637 crore from Rs 3,637 crore on an annual basis.

The company said its consolidated net profit attributable to owners increased by 334.2% to Rs 10,932 crore from Rs 2,518 crore in the corresponding period of the previous year.

According to the company, its board has approved a second interim dividend of 35%, or Rs 1.75 on each share of Rs 5.

“The total payout on this account will be Rs 2,201.55 crore. The record date for dividend distribution has been set for February 22, 2022, which was announced on the stock exchanges,” the company said in a statement.

“This is in addition to the first interim dividend of Rs 5.50 per share (110%) declared earlier in November 2021.”