ONGC share price today rose by 2.3% which was an industry high of Rs 124.90 before which the company set a great set of numbers for the quarter end in March 2021.
ONGC had reported a standalone profit Rs 6,734 crore for quarter ended in June 2021. against which they had faced losses last year. the gross revenue during this quarter is reduced by 1.2% to Rs 21,189 crore compared to previous years figures.
Today the stock opened approximately 1.14 per cent higher at Rs 123.40 compared to the previous close which was at 122.05. Considering the market cap the firm had risen by 1,54,548.73. in the last 12 month reports the share had provided with a 51% return. and it has also risen by 32% in the year 2021.
FY21 the profit margin ha declined by 16.5 per cent falling to Rs 11,246 crore. and the gross revenue was also declined by 29.2% compared to last year due to the pandemic.
the company said, “Despite country-wide lock-down due to COVID-19 pandemic, ONGC has almost reached last year’s production levels in case of Crude oil from its operated blocks. The shortfall in Natural Gas production is primarily due to less offtake by customers due to the COVID-19 pandemic. This has resulted in production shortfall of Condensate and Value Added Products (VAP) as well.”
The ONGC board also recommended that the final dividend of RS 1.85 per share will be provided. The company earlier also had declared an interim dividend of Rs 1.75 per share during the year, calculating the total dividend for FY21 to be Rs 3.60 per share.
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