ONGC rakes in profits
By Upstream staff
India's Oil & Natural Gas Corporation (ONGC) saw its quarterly net profit increase 22%, beating analysts forecasts, as lower discounts to state-run refiners more than made up for the impact of a stronger rupee.
State-run ONGC, said July-September net profit rose to 50.97 billion rupees ($1.3 billion) from 41.7 billion rupees in the same period last year.
The compared with a forecast net profit of 47.9 billion rupees in a Reuters poll of analysts.
Tuesday, 30 October, 2007, 13:04 GMT | last updated: Tuesday, 30 October, 2007, 13:04 GMT


