ONGC shares gain over 4% after Q2 results
New Delhi: Shares of Oil and Natural Gas Corp. (ONGC) on Monday rose by over 4% after the company reported a 3.1% rise in second quarter net profit.
The stock gained 4.14% to Rs191.15 on BSE. At NSE, shares of the company rose 3.99% to Rs191.35. In terms of equity volume, 773,000 shares of the company were traded on BSE and over 10 million shares changed hands at NSE during the morning trade.
State-owned ONGC on Saturday reported a 3.1% rise in second quarter net profit as impressive gain from rising oil prices were taken away by fall in government-mandated natural gas rates.
Net profit of Rs5,131 crore in July-September was 3.1% higher than Rs4,975 crore in the same period last year, the company said in a press statement. Revenue was up 3.1% at Rs18,966 crore.