ONGC Hikes After Reported December Quarter Trade
After ONGC (Oil and Natural Gas Corporation) reported great results for the last quarter in December 2018, its shares hiked to as much as 5.5 per cent in early trade. However, the stock grimmed some gains later in the business.
The company reported a net profit of Rs 8,263 crore for the third quarter, a jump of almost 65 percent from the same quarter last year.
ONGC’s Q3 gross revenue rose 20.4 percent YoY to Rs 27,694 crore.
The board also approved an interim dividend of Rs 5.5 per equity share.
At 09:19 hours, Oil and Natural Gas Corporation was quoting at Rs 137.05 on the BSE, up 3.75 percent.