(ET)
Oil and Natural Gas Corp’s third-quarter profit has risen 15% on higher crude prices. Profit went up to Rs 5,015 crore in the Oct-December quarter of 2017-18 from Rs 4,352 crore in the corresponding period a year earlier. Gross revenue rose 15% to Rs 22,996 crore.
The state-run producer realised a price of $60.58 per barrel for its crude from the nominated fields for the quarter, nearly 17% higher than in the year-ago period. In rupee terms, the realisation rose 12.2%. Oil price realised from its joint ventures also rose 15.4%.
