Devdiscourse News Desk| New Delhi
State-owned Oil and Natural Gas Corporation (ONGC) reported a 15% decline in net profit for the June quarter, attributing the fall to higher exploration cost write-offs.
The company’s net profit totaled Rs 8,938.10 crore in the first quarter of the 2024-25 fiscal year, down from Rs 10,526.78 crore in the same period last year, according to a stock exchange filing.
The revenue from operations rose to Rs 35,266.38 crore from Rs 33,814.33 crore a year ago.
(With inputs from agencies.)
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