ONGC Q1 profit rises 58% to ₹6,144 crore, misses estimates
6 years, 5 months ago

ONGC Q1 profit rises 58% to ₹6,144 crore, misses estimates

Live Mint  

New Delhi: State-owned ONGC on Thursday reported its highest quarterly net profit in over four-and-a-half-years on sharp rise in prices for oil and gas it produced. Its net profit of ₹ 6,143.88 crore in the first quarter of the 2018-19 fiscal was 58.1% higher than ₹ 3,884.73 crore in the year-ago period, Oil and Natural Gas Corp said in a statement here. The country’s largest oil and gas producer said it deposited ₹ 2,695 crore service tax and GST under protest as it believes such taxes are not applicable on royalty paid by the firm to the government. “In the year 2017-18, the company had received show-cause notices at various work centres on account of service tax along with interest and penalty, on royalty on crude oil and natural gas levied under Oil Field Act, 1948,” ONGC said. ONGC said it had worked out service tax for the period from 1 April 2016 to 30 June 2017 along with interest of ₹ 2,294 crore.

Tax Oil Gas Natural Gas Crore Ongc Crude Oil Service Tax Misses Estimates  profit  6144  misses  estimates  crore  royalty  crude  ongc  oil  tax  58  gas  quarter  q1  service  rises

History of this topic

Indian power company CESC’s Q3 profit falls amid higher tax expenses
5 days, 1 hour ago

Indian power company CESC’s Q3 profit falls amid higher tax expenses

Live Mint  

BENGALURU - India's CESC, a power generation and distribution company, reported a fall in third-quarter profit on Friday, due to higher tax expenses and lower regulatory income. Regulatory income, which includes adjustments related to fuel cost, purchase of power and other fixed costs, fell to 3 billion rupees from 5.6 billion rupees a year ago. KEY CONTEXT CESC's revenue for …

Oil India, ONGC shares jump 5% today. What's fuelling the rally?
1 week, 5 days ago

Oil India, ONGC shares jump 5% today. What's fuelling the rally?

India Today  

Shares of Oil India Ltd and ONGC surged up to 5% on Friday, buoyed by a sharp rise in crude oil prices, which reached their highest levels in over two months. According to YES Securities, ONGC’s oil production may fall 4.7% year-on-year in Q3, though gas production is likely to remain flat. For the December quarter, YES Securities projects a …

ONGC, Oil India, Reliance share price rise: Upsteam oil producers to benefit most from windfall tax being scrapped
1 month, 1 week ago

ONGC, Oil India, Reliance share price rise: Upsteam oil producers to benefit most from windfall tax being scrapped

Live Mint  

Stock Market Today: Oil and Natural Gas Corporation, Oil India, Reliance Industries saw thair share price rise up to 3% in the intaday trades on Tuesday. Oil india share price to gained more than 1% and so did Selan Exploration Technology Ltd, Hindustan Oil Exploration Co Ltd, Reliance Industries Ltd among others. Windfal Tax removal The removal of notifications on …

ONGC looks to cash in on gas pricing tweak, KG basin ramp-up
2 months ago

ONGC looks to cash in on gas pricing tweak, KG basin ramp-up

Live Mint  

Oil and Natural Gas Corp. Ltd’s standalone gross crude oil realization fell about 8% year-on-year in the September quarter to $78.3 per barrel. The good news is that the ramp-up of crude oil production from the newly developed KG basin 98/2 block to 25,000 barrels per day in October, up from 12,000 bpd in the June quarter should help it …

Ongc Share Price Today on 13-11-2024: Ongc share price are down by -1.41%, Nifty down by -1.36%
2 months ago

Ongc Share Price Today on 13-11-2024: Ongc share price are down by -1.41%, Nifty down by -1.36%

Live Mint  

Ongc Share Price Today on 13-11-2024: At 13 Nov 16:00 today, Ongc shares are trading at price ₹252.6, -1.41% down from the previous closing price. On the technical front, the stock is trading below the short term simple moving averages of 5, 10, 20 day as well as longer term moving averages of 50, 100 & 300 days. The SMA …

Stocks to Watch: Britannia, ONGC, Hindalco, BEML, Shree Cement, and more
Trending News
2 months ago

Stocks to Watch: Britannia, ONGC, Hindalco, BEML, Shree Cement, and more

Live Mint  

Here’s a quick look at stocks likely to be in focus in today's trade. Britannia Industries: FMCG major Britannia Industries Ltd reported a 10% decline in consolidated net profit for the quarter ended September 2024, amounting to ₹531 crore. Hindalco: Hindalco Industries reported a significant 123% growth in standalone net profit for the quarter ended September 2024, reaching ₹1,891 crore, …

ONGC Q2 Results: Net profit falls 25% YoY to ₹10,272.5 crore; interim dividend of ₹6 per share declared
2 months ago

ONGC Q2 Results: Net profit falls 25% YoY to ₹10,272.5 crore; interim dividend of ₹6 per share declared

Live Mint  

ONGC Q2 Results: Oil and Natural Gas Corporation Limited announced its July to September quarter results on Monday, November 11. Oil and Natural Gas Corporation Ltd shares closed 2.08 per cent lower at ₹256.90 after Monday's market session, compared to ₹262.35 at the previous market close. The company's revenue from core operations rose 7.25 per cent to ₹1,58,329.10 crore in …

Ongc Shares Price Today: Up 2.27%, Nifty Down 0.3%
Trending News
2 months, 2 weeks ago

Ongc Shares Price Today: Up 2.27%, Nifty Down 0.3%

Live Mint  

Ongc shares experience mixed performance today, with the stock price trading up by 2.27% on the NSE and down by -0.3% on the BSE. The stock has hit a high of ₹267.95 and a low of ₹261.1 during the day, indicating a trading range of ₹6.8. The technical analysis suggests support at 5 days SMA and resistance at 10,20,50,100,300 days …

ITC June quarter profit flat at ₹4,917 cr, revenue rises 7.2% to ₹18,220 cr
5 months, 1 week ago

ITC June quarter profit flat at ₹4,917 cr, revenue rises 7.2% to ₹18,220 cr

Live Mint  

New Delhi: ITC Ltd on Thursday missed Street estimates, with a mere 0.30% rise in standalone net profit in the June quarter, on account of higher expenses. Cigarette business and FMCG business faired well with 6-7% revenue growth and better margins, while agri and paperboard, paper & packaging saw dip in the profitability, impacting overall margins of the company. Meanwhile, …

ONGC seeks foreign partners for Mumbai High oilfield as output falls
7 months ago

ONGC seeks foreign partners for Mumbai High oilfield as output falls

Hindustan Times  

Oil and Natural Gas Corporation is seeking foreign partners for its flagship Mumbai High field due to declining outputs, PTI reported. ONGC believes the field still has a balance reserve of 80 million tonnes of oil and over 40 bcm of gas and hence, needs partners who can help tap them. ONGC had previously resisted considerations to sell the Mumbai …

ONGC share price rises 5% as Jefferies expects more than 40% upside-4 key reasons why
9 months ago

ONGC share price rises 5% as Jefferies expects more than 40% upside-4 key reasons why

Live Mint  

Oil and Natural Gas Commission Ltd share price saw a sharp 5% rise in share prices and ONGC was amongst largest Nifty-50 stock gainers. The upstream oil and gas producers as ONGC and Oil India Ltd though should benefit with higher crude prices, nevertheless windfall tax imposed by the government that keeps being adjusted every fortnight limits any major gains …

ONGC Q3 Results: Net Profit Falls Over 13%, Firm Announces Second Dividend
11 months ago

ONGC Q3 Results: Net Profit Falls Over 13%, Firm Announces Second Dividend

ABP News  

Oil and Natural Gas Corporation Ltd reported a 13.6 per cent drop in its net profit on a year-on-year basis in its third quarter earnings on Saturday. The oil and gas exploration firm logged a net profit of Rs 9,535.67 crore for the December quarter in the current financial year against a net profit of Rs 11,044.73 crore in the …

ONGC, Oil India poised for growth amid shifting oil dynamics
1 year ago

ONGC, Oil India poised for growth amid shifting oil dynamics

Live Mint  

Shares of Oil & Natural Gas Corp Ltd and Oil India Ltd have been on fire, significantly outperforming the Nifty50 index with gains of 38% and 73% respectively this calendar year. This tax, adjusted biweekly, stabilizes net oil realizations for companies like ONGC and Oil India, ensuring consistent earnings. JM Financial Securities Ltd notes that the windfall tax adjustments by …

Powergrid Q2 result: Net profit grows 3.6% to ₹3,781 cr, revenue up marginally
1 year, 2 months ago

Powergrid Q2 result: Net profit grows 3.6% to ₹3,781 cr, revenue up marginally

Live Mint  

Powergrid Corporation of India posted a consolidated net profit of ₹3,781.4 crore in the second quarter of fiscal year 2023-24, as per the financial results declared by the state-run company on November 7. The net profit was higher by 3.6 percent as compared to ₹3,650.3 crore reported in the year-ago period. Sequentially, the net profit was up by 5 percent …

Mint Explainer: How did ONGC double its consolidated net profit in Q1?
1 year, 5 months ago

Mint Explainer: How did ONGC double its consolidated net profit in Q1?

Live Mint  

State-run ONGC reported a 102.6% rise in its consolidated net profit for the first quarter of FY24 at ₹17,383 crore, despite gross revenue falling 10.4% to ₹1.63 lakh crore. Total crude oil production declined 3.3% on-year to 5.311 million metric tonnes during the June quarter. Oil India Ltd reported a 3.7% rise in net profit for the April-June quarter to …

ONGC Q1 net profit drops 34% on lower oil prices, output
1 year, 5 months ago

ONGC Q1 net profit drops 34% on lower oil prices, output

Hindustan Times  

The net profit of Oil and Natural Gas Corporation fell over 34 per cent in June quarter on decline in oil prices and lower output, the firm said. ONGC, India's top crude oil and natural gas producer, earned USD 76.49 for every barrel of crude oil it produced and sold from nomination fields against a net realisation of USD 108.55 …

Reliance Industries Q1FY24 Net Profit Declines 6% Dented By Oil-To-Chemicals Performance
1 year, 5 months ago

Reliance Industries Q1FY24 Net Profit Declines 6% Dented By Oil-To-Chemicals Performance

News 18  

Reliance Industries Ltd reported on July 21 a year-on-year decrease of 6 percent in the consolidated net profit at Rs 18,258 crore in the first quarter of the financial year 2023-24 as muted performance in the oil-to-chemicals partly offset the strong growth in consumer-facing businesses The conglomerate’s consolidated total revenue in the June quarter declined to Rs 231,132 crore from …

ONGC plans ₹1 tn investment to cut carbon emissions
1 year, 7 months ago

ONGC plans ₹1 tn investment to cut carbon emissions

Live Mint  

New Delhi: Oil and Natural Gas Corp. will spend ₹1 trillion on green initiatives by 2030 to reduce its carbon footprint as part of a broader effort to achieve net-zero emissions by 2038. ONGC’s chairman and managing director Arun Kumar Singh, told reporters on Monday that the oil explorer has set an ambitious net-zero target and aims to cut both …

Centre cuts windfall tax on domestic crude oil
2 years ago

Centre cuts windfall tax on domestic crude oil

Deccan Chronicle  

New Delhi: The Centre has cut the windfall profit tax on domestically produced crude oil. According to the revised prices, the windfall tax on crude oil produced by firms such as the state-owned Oil and Natural Gas Corporation has been reduced to Rs 1,700/tonne from the previous Rs 4,900/tonne. The new levy also includes Rs 1.5 per litre as road …

Centre hikes tax on windfall profit on crude oil, export of diesel, jet fuel
2 years, 2 months ago

Centre hikes tax on windfall profit on crude oil, export of diesel, jet fuel

Hindustan Times  

The government on Saturday hiked windfall tax on domestically produced crude oil by more than a third while doubling the rate on export of diesel and re-introducing the levy on overseas shipment of jet fuel in line with rise in international oil prices. Centre hikes tax on windfall profit on crude oil, export of diesel, jet fuel The tax on …

Centre hikes windfall profit tax on export of diesel, ATF; raises tax on domestic crude oil
2 years, 2 months ago

Centre hikes windfall profit tax on export of diesel, ATF; raises tax on domestic crude oil

The Hindu  

The government on Saturday hiked the windfall profit tax on the export of diesel to ₹12 per litre and that on jet fuel exports to ₹3.50 a litre with effect from October 16. After lowering the tax rates for two consecutive fortnights mirroring fall in global crude prices, the Finance Ministry has brought about a hike in export taxes on …

Govt. hikes windfall profit tax on export of diesel, ATF; raises tax on domestic crude oil
2 years, 4 months ago

Govt. hikes windfall profit tax on export of diesel, ATF; raises tax on domestic crude oil

The Hindu  

The government has hiked the windfall profit tax on the export of diesel to ₹13.5 per litre and on jet fuel exports to ₹9 a litre, besides raising the levy on domestically-produced crude oil in line with the hardening of global prices. At the fourth fortnightly review, the government raised the windfall profit tax on the export of diesel to …

ONGC and Reliance to Roar After Windfall Tax Cut: Morgan Stanley
2 years, 5 months ago

ONGC and Reliance to Roar After Windfall Tax Cut: Morgan Stanley

News 18  

A surprise cut in additional taxes imposed on fuel exports and crude oil production has spiked energy sector prospects, said global brokerage Morgan Stanley. “While in absolute terms the windfall taxes are still high, we believe steady normalisation in local fuel availability, stability in oil prices, more normalised global fuel margins, and currency stability will help further reduction in windfall …

Centre slashes windfall tax on fuel: Reliance Industries shares climb over 4%, ONGC jumps 7%
2 years, 5 months ago

Centre slashes windfall tax on fuel: Reliance Industries shares climb over 4%, ONGC jumps 7%

Firstpost  

The government on Wednesday slashed the windfall tax on petrol, diesel, jet fuel and crude oil following a decline in international rates. It scrapped Rs 6 a litre tax on export of petrol and reduced the same on ATF from Rs 6 a litre to Rs 4 New Delhi: Shares of firms related to oil exploration and refineries were in …

Centre pares windfall tax on crude, scraps petrol exports levy
2 years, 5 months ago

Centre pares windfall tax on crude, scraps petrol exports levy

The Hindu  

With global oil prices ebbing, the Centre on Wednesday slashed the windfall tax levied on crude petroleum producers, reduced the export tax on Aviation Turbine Fuel and diesel and scrapped the duty on petrol exports. On July 1, the government had levied fresh taxes on the export of petrol, fuel and ATF as well as the domestic sale of crude …

RIL, ONGC Shares Surge As Govt Likely To Consider Lowering Windfall Tax on Petrol, Diesel
2 years, 6 months ago

RIL, ONGC Shares Surge As Govt Likely To Consider Lowering Windfall Tax on Petrol, Diesel

News 18  

Shares of Reliance Industries Limited and ONGC surged on Thursday after media reports that the government might lower the recently implemented windfall tax in a meeting on Friday. Bhavik Patel, senior commodity/currency research analyst at TradeBulls Securities, said: “The fall in crude oil prices from $126 to $94 in the span of 6 weeks has prompted the government to reconsider …

ONGC, Oil India Shares Tank Up To 8% To Extend Losses On Windfall Tax, Crude Oil Prices
2 years, 6 months ago

ONGC, Oil India Shares Tank Up To 8% To Extend Losses On Windfall Tax, Crude Oil Prices

News 18  

Oil and Natural Gas Corporation, Oil India Shares extended their losing streak on Wednesday after crude oil price sank overnight in the international market. ONGC was down 5.5 per cent as of 10.50 am on BSE while Oil India fell 8 per cent. Nishit Master, Portfolio Manager, Axis Securities, said: “Oil stocks have been weak after government-imposed special additional excise …

ONGC, Oil India Shares Skid Up To 20% in Two Days; What Should Investors Do Now?
2 years, 6 months ago

ONGC, Oil India Shares Skid Up To 20% in Two Days; What Should Investors Do Now?

News 18  

ONGC, Oil India Share Price: Shares of state-owned oil & gas companies, Oil and Natural Gas Corporation and Oil India were trading lower for the second straight day, falling up to 6 per cent on the BSE in Monday’s intra-day trade after the government on Friday imposed a special additional excise duty of Rs 23,250 per tonne on crude oil …

Solid Cash Flow to Support ONGC's Higher Investments: S&P
2 years, 7 months ago

Solid Cash Flow to Support ONGC's Higher Investments: S&P

News 18  

Riding on the back of surge in global energy prices, state-owned Oil and Natural Gas Corporation should have a solid base to increase investments over the next 12-18 months on account of healthy earnings, S&P Global Ratings has said. While oil prices are hovering at multi-year high, gas prices for ONGC too have risen to best ever rate of USD …

ONGC sees oil production rising 11%, gas jumping 25% by FY25
2 years, 7 months ago

ONGC sees oil production rising 11%, gas jumping 25% by FY25

The Hindu  

ONGC said its crude oil production would rise 11% and natural gas output would jump 25% after newer discoveries in the western and eastern offshore start producing. In an investor presentation post FY22 earnings, Oil and Natural Gas Corporation said crude oil production would rise from 19.545 million tonnes in the financial year ended March 31 to 19.88 million tonnes …

India's crude oil production drops 1% in April
2 years, 7 months ago

India's crude oil production drops 1% in April

The Hindu  

New Delhi India's crude oil production fell 1% in April after lower output from fields operated by the private sector wiped away gains by state-owned firms such as ONGC, official data showed Tuesday. India produced 2.47 million tonnes of crude oil in April, down from 2.5 million tonnes in the same month last year, according to data released by the …

Oil ministry tells ONGC to sell oilfields; hive off drilling, other services
3 years, 8 months ago

Oil ministry tells ONGC to sell oilfields; hive off drilling, other services

Hindustan Times  

The petroleum ministry has told India's largest oil and gas producer ONGC to sell stake in producing oil fields such as to Ratna R-Series to private firms, get foreign partners in KG basin gas fields, monetise existing infrastructure, and hive off drilling and other services into a separate firm to raise production. ONGC produced 20.2 million tonnes of crude oil …

ONGC Books Rs 1,238 Cr Impairment Loss, Q2 Net Profit Down 55 Pc
4 years, 2 months ago

ONGC Books Rs 1,238 Cr Impairment Loss, Q2 Net Profit Down 55 Pc

News 18  

India's top oil and gas producer ONGC booked a Rs 1,238-crore impairment loss, which together with a fall in prices led to a 55 per cent drop in the company's September quarter net profit. Standalone net profit at Rs 2,878 crore in July-September quarter was 54.6 per cent lower than Rs 6,336 crore net profit a year ago, the company …

ONGC to lose Rs 4,000 cr revenue as govt slashes gas prices by steep 26%; seeks freeing of price control
4 years, 9 months ago

ONGC to lose Rs 4,000 cr revenue as govt slashes gas prices by steep 26%; seeks freeing of price control

Firstpost  

State-owned Oil and Natural Gas Corp will lose about Rs 4,000 crore in revenue and start making cash losses after the government slashed the natural gas prices by a steep 26 percent by benchmarking it against rates prevalent in gas-surplus nations New Delhi: State-owned Oil and Natural Gas Corp will lose about Rs 4,000 crore in revenue and start making …

ONGC stock falls over 3 pc on Q3 results
4 years, 10 months ago

ONGC stock falls over 3 pc on Q3 results

India TV News  

Shares of Oil and Natural Gas Corporation fell over 3 per cent on Monday after the company posted halving of its December quarter net profit. On traded volume front, 11.36 lakh shares of the company were traded on the BSE and more than 3.6 crore units exchanged hands on the NSE. State-owned Oil and Natural Gas Corporation on Friday reported …

ONGC production disappoints in Q2; higher crude oil prices are key
5 years, 1 month ago

ONGC production disappoints in Q2; higher crude oil prices are key

Live Mint  

State-run oil and gas producer Oil and Natural Gas Corp. Ltd’s September quarter results did not impress the Street. Stand-alone net crude oil price realizations declined by 17% year-on-year to $60.33 a barrel, disappointing some analysts. ONGC’s total crude oil and gas production declined 4% and 2%, respectively, on a year-on-year basis. “Oil production has seen year-on-year decline in successive …

ONGC gas output jumps 6.5% to record high in FY19
5 years, 9 months ago

ONGC gas output jumps 6.5% to record high in FY19

Live Mint  

New Delhi: Reversing years of decline, state-owned Oil and Natural Gas Corp has reported a record 6.5 per cent jump in natural gas production to 25.9 billion cubic meters in the fiscal year ended March 31, 2019, as it doubles up efforts to raise domestic output to curb imports. Natural gas production from ONGC-operated nomination fields, NELP blocks and joint …

ONGC eyes upstream linked power generation, refining projects abroad
5 years, 9 months ago

ONGC eyes upstream linked power generation, refining projects abroad

Live Mint  

Mumbai: State-run Oil and Natural Gas Corp. Ltd plans to leverage its units, ONGC Tripura Power Co. Ltd, Hindustan Petroleum Corp. Ltd, and Mangalore Refinery and Petrochemicals Ltd, to win upstream linked electricity generation and refining projects overseas, said a senior company executive. ONGC, which accounts for 73% of India’s oil and gas output, acquired the government’s stake in HPCL …

Centre asks ONGC to list overseas investment arm OVL on bourses to help achieve govt disinvestment target
6 years, 4 months ago

Centre asks ONGC to list overseas investment arm OVL on bourses to help achieve govt disinvestment target

Firstpost  

ONGC had helped the government meet its disinvestment target last fiscal when it bought a 51.11 percent stake in state-owned Hindustan Petroleum Corp Ltd for Rs 36,915 crore New Delhi: The government has asked ONGC to list its overseas investment arm, ONGC Videsh Ltd on stock exchanges and transfer proceeds to it in the form of a special dividend, helping …

ONGC’s net rises 58%
6 years, 5 months ago

ONGC’s net rises 58%

The Hindu  

State-owned ONGC on Thursday reported its highest quarterly net profit in more than four and a half years on sharp rise in prices for the oil and gas it produced. Net profit of ₹6,143.88 crore in the first quarter of the 2018-19 fiscal was 58.1% higher than ₹3,884.73 crore in the year earlier period, Oil and Natural Gas Corp. said …

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