ONGC’s Q4 standalone net profit down by over 30%

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Mumbai, May 30 (IANS) Diversified energy major ONGC on Thursday reported a decline of 31.6 per cent in its standalone net profit for the quarter ended March 31, 2019.

According to the company, the standalone Q4 net profit declined to Rs 4,045 crore against Rs 5,915 crore reported during the corresponding period of previous fiscal.

However, on a full fiscal basis, the energy major reported a 33.9 per cent jump in net profit to Rs 26,716 crore against Rs 19,945 crore in the 2017-18.

The company further reported its highest-ever consolidated net profit at Rs 33,887 crore, up 30 per cent on a YoY basis.

“The ONGC Board has recommended final dividend of 15 per cent. The company had earlier declared interim dividends of 125 per cent during the year; thus the total dividend for FY’19 has been 140 per cent as against 132 per cent in last year,” the company said in a statement.

“The total dividend payout for FY’19 would be Rs 8,806 crore (excluding Dividend Distribution Tax).”

–IANS

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