(TH)
ONGC Videsh Ltd, wholly-owned subsidiary of ONGC, has reported a ₹134-crore net profit for the first-half of the financial year 2017-2018. This is 72.71 per cent lower than the net profit reported in the same period in the previous year.
The profit was hit mainly due to forex movements and provisioning against exploratory carry finance, the company said. The income from operations fell to ₹3,412 crore during the first-half of the current financial year. This is 1.27 per cent lower than the ₹3,456-crore income from operations reported by the company in the corresponding period of the last financial year.
