ONGC third-quarter profit beats estimate1 min read . Updated: 14 Feb 2019, 06:05 PM IST
- Revenue from operations climbed over 20% to ₹276.94 billion
- Revenue from offshore operations rose 19.1%
India's Oil and Natural Gas Corp on Thursday posted a 64.8% jump in third-quarter profit, handily beating analysts estimates, boosted by higher revenue from offshore operations.
ONGC's profit stood at 82.63 billion rupees ($1.16 billion) in the quarter ended Dec. 31, compared with 50.15 billion rupees a year earlier, the oil and gas explorer said in a stock exchange filing.
Analysts on average had expected a profit of ₹73.71 billion, according to Refinitiv data.
Revenue from operations climbed over 20% to ₹276.94 billion, while revenue from offshore operations rose 19.1%, ONGC said.
This story has been published from a wire agency feed without modifications to the text.