ONGC's Q4 net profit increases by 12 per cent

India’s largest oil and gas exploration company by sales, has posted robust numbers this quarter, but has failed to deliver on a (YoY) basis. The company on May 26 has declared its Q4FY16 results, wherein for the March quarter the company has reported a net profit of Rs 4416 crores. Net profits have increased by 12 per cent as compared to Q4FY15. EBITDA for the period stands at Rs 3489.58 crores. Total income from operations stands at 4489.16 crores for the quarter as against Rs 7619.38 crore for the corresponding period of the previous fiscal.

On a YoY basis, net profits after minority interest stand at Rs 14124 crores, whereas for the previous fiscal it stood at Rs 1833.52 crores. Net profit has decreased by 19 per cent. EBITDA stands at Rs 41262 crores and has decreased by 3 per cent from the previous year. Consolidated total income for the period stands at Rs 131517.33 crores.

Oil and Natural Gas Corporation Ltd., is an Indian state-owned oil and gas company. Its operations are majorly in two divisions: firstly oil and gas exploration and production; & secondly refining activities.

Profits on a YoY basis, for this year have declined as compared to previous year, largely due to exceptional loss of Rs 3,142.2 crore, despite a 15.5 percent increase in other income. Profit was also impacted by discount of Rs 607 crore which was given against Rs 20,437 crore to oil marketing companies.

The board of directors recommended a final dividend of Rs 3.25 per share for the year ended March 31,2016 (FY 2016).

The shares on Friday have decreased by 2 per cent on an intra – day basis and are trading at Rs 214. However, the shares in the last 3 months have surged by about 11 per cent.