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Last Updated : Nov 03, 2018 06:14 PM IST | Source: Moneycontrol.com

ONGC Q2 profit surges 35% to Rs 8,265 cr on other income; revenue rises 3% QoQ

ONGC's Q2 operating profit margin expanded 226 bps to 56.4 percent in quarter ended September 2018 QoQ.

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Oil and Natural Gas Corporation (ONGC) has reported a healthy 34.5 percent sequential growth in second quarter profit to Rs 8,264.6 crore, largely driven by other income and operating margin.

Profit in previous quarter stood at Rs 6,143.8 crore.

Revenue from operations grew by 2.9 percent during the quarter to Rs 27,989.1 crore compared to Rs 27,212.8 crore in April-June period, the PSU oil & gas exploration company said.

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At operating level, EBITDA (earnings before interest, tax, depreciation and amortisation) increased 7.2 percent sequentially to Rs 15,788.74 crore and margin expanded 226 bps to 56.4 percent in quarter ended September 2018.

Other income during the quarter increased sharply by 268.4 percent quarter-on-quarter to Rs 2,394 crore while total expenses declined 3.2 percent to Rs 17,678.4 crore due to fall in finance expense, depreciation cost and other expenses.

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First Published on Nov 3, 2018 06:14 pm
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