Oil & Natural Gas Corporation (ONGC) disclosed a sharp drop in standalone net profit for the quarter ended March 2015. During the quarter, the profit of the company declined 19.51% to Rs 39,350.70 million from Rs 48,890 million in the same quarter last year.
Profit for the quarter was lower due to higher statutory levies, exploration cost write off and other expenses.
Revenues for the quarter rose marginally 1.57% to Rs 216,474.90 million, compared with Rs 213,131 million for the prior year period.
Operating margins for the quarter stood at 20.90% compared with 26.30% for the previous year period.
Earnings per share for the quarter stood at Rs 4.60, registering 19.44% decline over previous year period.
The board of directors recommended a final dividend of 10% or Rs 0.50 a share of Rs 5 each, for the Financial Year 2014-15, subject to approval of the shareholders at the ensuing Annual General Meeting. The dividend payout works out to Rs 4.28 billion.
| Quarterly Results - Standalone (Rs in mn) |
| As at | Mar - 15 | Mar - 14 | %Change |
| Revenues | 216,474.90 | 213,130.90 | 1.57 |
| Net Profit | 39,350.70 | 48,890.00 | (19.51) |
| Diluted EPS | 4.60 | 5.71 | (19.44) |
Shares of the company declined Rs 3.15, or 0.95%, to trade at Rs 328.10. The total volume of shares traded was 555,685 at the BSE (3.47 p.m., Thursday).
