ONGC Q4 NET UP 37% AT ‘5,915 CR
Posted on 31st May 2018 |
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| On back of higher oil prices, State-owned Oil and Natural Gas Corp (ONGC) on Wednesday posted its net profit of Rs 5,915.12 crore, a jump of 37 per cent in three-months to March 31, 2018. The net profit in the fourth quarter of 2017-18, the highest profit in last 17 quarters, was higher than Rs 4,340.18 crore net in the same period of the previous fiscal, according to the company. Besides, the board of directors of ONGC recommended a final dividend of Rs 1.35 per share (27 per cent). This is in addition to the interim dividend of Rs 5.25 per share declared in two phases previously. The oil and gas major realised $66.71 for every barrel of crude oil it produced from nominated fields, up from $54.91 a barrel it got in January-March 2017. Gas price realisation was also up 15.6 per cent at $2.89 per million British thermal unit. ONGC's oil production declined 3 per cent at 6.2 million tonnes in the quarter. For the full 2017-18 fiscal, net profit was up 11.4 per cent at Rs 19,945 crore. However, the turnover in the fourth quarter rose 5 per cent to Rs 27,703.54 crore. The company made 12 oil and gas discoveries in the year, half of them were on land. Out of the six onland discoveries, two were monetised during the year itself, the statement said without giving details. “In FY18, ONGC has registered an RRR in excess of one for the 12th consecutive year. This reflects ONGC's strong exploratory record over the years,” it said. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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